Allspring Global Investments Holdings LLC Cuts Stake in International Business Machines Corporation (NYSE:IBM)

Allspring Global Investments Holdings LLC reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,411 shares of the technology company's stock after selling 89,658 shares during the period. Allspring Global Investments Holdings LLC's holdings in International Business Machines were worth $99,989,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $31,000. Rialto Wealth Management LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $35,000. Tacita Capital Inc raised its holdings in International Business Machines by 174.3% in the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock valued at $42,000 after buying an additional 122 shares during the period. Measured Risk Portfolios Inc. purchased a new position in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.8%

Shares of NYSE:IBM opened at $289.69 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. The company has a fifty day simple moving average of $262.93 and a 200 day simple moving average of $247.66. The firm has a market cap of $269.24 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. International Business Machines Corporation has a 12-month low of $173.38 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is 115.66%.

Wall Street Analyst Weigh In

Several research firms recently commented on IBM. Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley cut their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Bank of America raised their price target on shares of International Business Machines from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $253.75.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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