International Business Machines Corporation $IBM Stock: SVB Wealth LLC Trims Holdings

SVB Wealth LLC lessened its position in International Business Machines Corporation (NYSE:IBM) by 13.9% in the third quarter, HoldingsChannel reports. The fund owned 22,777 shares of the technology company’s stock after selling 3,677 shares during the quarter. SVB Wealth LLC’s holdings in International Business Machines were worth $5,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. BlackRock Inc. bought a new stake in International Business Machines during the 2nd quarter valued at $21,586,659,000. State Street Corp raised its holdings in 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 buying an additional 1,450,562 shares during the last quarter. Bank of America Corp DE bought a new position in shares of International Business Machines in the second quarter valued at $4,214,868,000. Bank of New York Mellon Corp bought a new position in shares of International Business Machines in the second quarter valued at $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of International Business Machines by 0.7% in the second 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 valued at $2,143,245,000 after buying an additional 53,388 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling

In other International Business Machines 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 transaction of $5,758,000.00. Following the completion of the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. Truist Financial set a $260.00 target price on shares of International Business Machines in a report on Thursday, October 22nd. Craig Hallum initiated coverage on shares of International Business Machines in a research report on Wednesday, August 19th. They issued a “buy” rating on the stock. Evercore reiterated an “outperform” rating on shares of International Business Machines in a research note on Friday, November 6th. Barclays boosted their price objective on International Business Machines from $262.00 to $277.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Finally, Citigroup boosted their price objective on International Business Machines from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Nineteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.88.

International Business Machines Trading Down 1.3%

NYSE:IBM opened at $244.91 on Friday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The stock’s fifty day moving average price is $237.80 and its two-hundred day moving average price is $247.66. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The company has a market cap of $231.47 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.44 and a beta of 0.78.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. During the same period in the previous year, the business earned $2.65 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Announces Dividend

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

Key International Business Machines News

Here’s some of the latest news about IBM:

• Positive Sentiment: IBM acquired cybersecurity company AuthMind, adding to its push in security. The report provides no deal terms, so the near-term financial impact is unclear. IBM acquires AuthMind
• Neutral Sentiment: IBM’s new digital-sovereignty index found widespread difficulty among enterprises in proving control over data and AI systems. This may highlight demand for IBM’s consulting and technology solutions, but also underscores customer risks as AI adoption and regulation grow. IBM Digital Sovereignty Index
• Negative Sentiment: IBM plans to end H-1B and green-card sponsorship for many roles in its U.S. consulting unit, reportedly its largest business. The move may reduce immigration-related costs or reflect policy constraints, but could make it harder to retain and recruit specialized workers and create disruption for affected teams. IBM to end immigration sponsorship for roles in biggest unit

International Business Machines Company 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.