Allspring Global Investments Holdings LLC Trims Position in International Business Machines Co. (NYSE:IBM)

Allspring Global Investments Holdings LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 496,582 shares of the technology company’s stock after selling 83,697 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Business Machines were worth $109,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the first quarter worth about $28,000. Financial Synergies Wealth Advisors Inc. boosted its position in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC raised its position in shares of International Business Machines by 37.0% in the 2nd 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 own 58.96% of the company’s stock.

International Business Machines Trading Down 0.3 %

International Business Machines stock opened at $232.20 on Monday. International Business Machines Co. has a one year low of $135.87 and a one year high of $237.37. The business’s fifty day moving average is $212.19 and its 200 day moving average is $189.14. The stock has a market capitalization of $213.30 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 EPS. On average, sell-side analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.88%. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IBM shares. Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research report on Wednesday, October 2nd. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bank of America boosted their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $203.06.

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.