International Business Machines Co. (NYSE:IBM) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 14.1% in the second quarter, Holdings Channel reports. The institutional investor owned 580,279 shares of the technology company’s stock after acquiring an additional 71,911 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Business Machines were worth $100,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Arden Trust Co increased its position in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after purchasing an additional 54 shares during the last quarter. CVA Family Office LLC increased its position in International Business Machines by 3.3% during the second quarter. CVA Family Office LLC now owns 1,796 shares of the technology company’s stock worth $311,000 after purchasing an additional 57 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares in the last quarter. Peddock Capital Advisors LLC increased its position in shares of International Business Machines by 0.6% in the second quarter. Peddock Capital Advisors LLC now owns 10,040 shares of the technology company’s stock worth $1,736,000 after acquiring an additional 58 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Down 0.1 %

NYSE IBM opened at $197.73 on Tuesday. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market capitalization of $181.64 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 4.24 and a beta of 0.71. The company’s fifty day moving average price is $184.36 and its two-hundred day moving average price is $181.51.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts predict that International Business Machines Co. will post 10.06 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $1.67 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.38%. International Business Machines’s payout ratio is currently 75.65%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IBM shares. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets increased their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $184.93.

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.