International Business Machines Corporation $IBM Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its IBM stake by 10.9% in the third quarter, selling 78,845 shares; it still held 646,670 shares valued at about $142.2 million.
• IBM beat quarterly estimates, reporting EPS of $2.95 versus $2.85 expected and revenue of $17.10 billion, up 4.7% year over year.
• IBM is expanding its quantum-computing work through new installations and research partnerships, while analysts’ consensus rating remains “Moderate Buy” with an average $266.88 price target.

Pictet Asset Management Holding SA decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 646,670 shares of the technology company's stock after selling 78,845 shares during the quarter. Pictet Asset Management Holding SA owned 0.07% of International Business Machines worth $142,226,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Harborfront Financial Group LLC acquired a new stake in shares of International Business Machines in the second quarter valued at $27,000. Hara Capital LLC purchased a new stake in shares of International Business Machines in the 2nd quarter valued at $28,000. Bare Financial Services Inc lifted its stake in International Business Machines by 114.6% during the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Caitlin John LLC acquired a new position in International Business Machines during the 2nd quarter worth about $35,000. Finally, Axiom Investment Management LLC acquired a new position in International Business Machines during the 1st quarter worth about $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

More International Business Machines News

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

• Positive Sentiment: Evercore’s sum-of-the-parts analysis values IBM at $290 a share, above its $275 price target, suggesting the firm sees potential value in IBM’s businesses, including quantum computing. IBM Stock Could Be More Than a ‘Safe Haven.' Quantum Computing Is a Big Reason
• Positive Sentiment: IBM’s Quantum System Two is now operational at the University of Chicago, expanding its quantum-computing presence and partnerships in Illinois. The installation strengthens IBM’s research and commercialization ecosystem, though financial returns are likely longer term. IBM Unveils Its Most Advanced Quantum Computer in Chicago
• Positive Sentiment: IBM, AMD and Oak Ridge National Laboratory launched a platform combining quantum and high-performance computing to advance quantum error correction, supporting IBM’s technology roadmap. The initiative targets progress toward a scientifically relevant quantum computer by 2028. Oak Ridge National Laboratory, IBM, and AMD Launch New Co-Design Platform for Quantum Error Correction
• Neutral Sentiment: A recent valuation commentary questions whether IBM’s cash-flow outlook supports the stock’s longer-term share-price gains. The excerpt does not provide a firm valuation conclusion, but it highlights investor scrutiny of the company’s price relative to future cash generation. IBM Stock Could Trade At A Discount After Quantum Computing News

International Business Machines Stock Down 0.1%

International Business Machines stock opened at $244.71 on Monday. The firm has a market capitalization of $231.28 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.41 and a beta of 0.78. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.57. International Business Machines Corporation has a twelve month low of $199.19 and a twelve month high of $332.46. The stock's fifty day simple moving average is $236.76 and its 200-day simple moving average is $248.64.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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 34.37% and a net margin of 15.99%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $16.82 billion. During the same period last year, the business posted $2.65 earnings per share. International Business Machines's revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that International Business Machines Corporation will post 12.41 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be given a $1.69 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a yield of 2.8%. International Business Machines's dividend payout ratio (DPR) is currently 57.63%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the 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 owned 47,800 shares of the company's stock, valued at $11,009,296. This trade represents a 34.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Susquehanna set a $275.00 target price on International Business Machines in a report on Friday. Royal Bank Of Canada reiterated an "outperform" rating and set a $270.00 price target on shares of International Business Machines in a research note on Thursday, October 22nd. Oppenheimer cut shares of International Business Machines from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 15th. Barclays raised their price objective on shares of International Business Machines from $262.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $250.00 to $269.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Nineteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $266.88.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers.

IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

The company traces its roots to the Computing-Tabulating-Recording Company, formed in 1911, and adopted the name International Business Machines in 1924.

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