Crossmark Global Holdings Inc. Sells 14,578 Shares of International Business Machines Corporation $IBM

Key Points

• Crossmark Global Holdings reduced its IBM position by 12.2% in the third quarter, selling 14,578 shares and retaining 104,523 shares valued at approximately $23 million.
• Institutional investors and hedge funds own nearly 59% of IBM’s outstanding shares, with major firms including State Street, Bank of America, and UBS increasing or maintaining sizable positions.
• IBM’s latest quarterly results exceeded expectations, with adjusted EPS of $2.95 and revenue of $17.1 billion; analysts maintain a “Moderate Buy” consensus and an average price target of $255.76.

Crossmark Global Holdings Inc. trimmed its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,523 shares of the technology company's stock after selling 14,578 shares during the period. Crossmark Global Holdings Inc.'s holdings in International Business Machines were worth $22,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in International Business Machines in the second quarter valued at approximately $21,586,659,000. State Street Corp increased its holdings in shares of International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock worth $15,760,430,000 after purchasing an additional 1,450,562 shares during the period. Bank of America Corp DE raised its holdings in International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock valued at $3,893,669,000 after acquiring an additional 1,049,602 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in International Business Machines during the second quarter worth about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of International Business Machines by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company's stock worth $2,143,245,000 after acquiring an additional 53,388 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Q3 results exceeded expectations: IBM reported adjusted earnings of $2.95 per share versus consensus estimates near $2.85-$2.88, while revenue rose approximately 5% year over year to $17.1 billion, ahead of the roughly $16.8 billion forecast. IBM beats on top and bottom lines
• Positive Sentiment: Software and infrastructure growth accelerated: Software revenue increased 8% to $7.8 billion and Infrastructure revenue rose 4% to $3.7 billion. Management said previously delayed infrastructure deals began closing, supporting the view that the prior-quarter slowdown was temporary. IBM raises annual software revenue outlook
• Positive Sentiment: Cash-flow outlook improved: IBM generated $3.0 billion in free cash flow during the quarter and expects full-year free cash flow to increase by more than $1 billion from the prior year. The company maintained its 4%-5% full-year constant-currency revenue-growth forecast. IBM third-quarter results
• Positive Sentiment: CEO Arvind Krishna highlighted momentum in enterprise AI and “Super Intelligence” initiatives, while IBM’s partnerships around open-source AI inference and its quantum-computing strategy add longer-term growth catalysts.
• Neutral Sentiment: IBM’s GAAP net income rose to $2.19 billion from $1.74 billion a year earlier, and the board declared a quarterly dividend of $1.69 per share.
• Negative Sentiment: Gross margin was narrower than expected, which could limit the benefit of revenue growth if elevated AI, infrastructure, or implementation costs persist.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBM. Royal Bank Of Canada reissued an "outperform" rating and set a $270.00 target price on shares of International Business Machines in a research note on Tuesday, October 13th. Morgan Stanley increased their target price on shares of International Business Machines from $190.00 to $238.00 and gave the company an "equal weight" rating in a research report on Thursday, October 15th. Jefferies Financial Group dropped their price objective on International Business Machines from $320.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Sanford C. Bernstein reduced their price target on shares of International Business Machines from $280.00 to $230.00 and set a "market perform" rating for the company in a report on Thursday, July 23rd. Finally, Susquehanna restated a "neutral" rating on shares of International Business Machines in a report on Wednesday. Twenty analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.76.

Insider Activity

In other news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

International Business Machines Price Performance

Shares of IBM opened at $250.67 on Thursday. International Business Machines Corporation has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. The stock has a market cap of $236.16 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.32 and a beta of 0.73. The firm's 50-day simple moving average is $232.36 and its two-hundred day simple moving average is $243.60.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.10. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $16.82 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that International Business Machines Corporation will post 12.34 earnings per share for the current fiscal year.

International Business Machines Company Profile

International Business Machines Corporation NYSE: IBM, commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.

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