Allspring Global Investments Holdings LLC Decreases Position in International Business Machines Corporation $IBM

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in International Business Machines Corporation (IBM) by 12.9%, now holding 347,725 shares worth approximately $101.26 million.
• IBM reported a quarterly earnings per share of $2.80, exceeding analysts' estimates of $2.65, and its revenue increased by 7.7% year-over-year to $16.98 billion.
• The company's recent dividend of $1.68, paid on September 10th, represents an annualized dividend yield of 2.4% with a payout ratio of 109.09%.

Allspring Global Investments Holdings LLC cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,725 shares of the technology company's stock after selling 51,686 shares during the period. Allspring Global Investments Holdings LLC's holdings in International Business Machines were worth $101,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Family CFO Inc purchased a new stake in shares of International Business Machines in the second quarter worth approximately $25,000. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter worth approximately $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines in the first quarter worth approximately $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines in the first quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners raised its holdings in shares of International Business Machines by 322.6% in the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.2%

Shares of NYSE IBM opened at $277.21 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $257.64 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.73. The stock's fifty day simple moving average is $258.69 and its two-hundred day simple moving average is $261.01. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.4%. International Business Machines's dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBM. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. JPMorgan Chase & Co. increased their price target on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Sanford C. Bernstein began coverage on International Business Machines in a report on Monday, September 15th. They set a "market perform" rating and a $280.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $284.62.

International Business Machines 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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