International Business Machines Corporation $IBM Stock: Courier Capital LLC Reduces Holdings

Courier Capital LLC reduced its position in International Business Machines Corporation (NYSE:IBM) by 9.0% during the third quarter, HoldingsChannel reports. The firm owned 31,088 shares of the technology company’s stock after selling 3,072 shares during the period. International Business Machines comprises approximately 1.3% of Courier Capital LLC’s portfolio, making the stock its 20th largest holding. Courier Capital LLC’s holdings in International Business Machines were worth $6,837,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in International Business Machines during the second quarter valued at $21,586,659,000. State Street Corp lifted its stake in shares of International Business Machines by 2.7% in the 2nd quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock valued at $15,760,430,000 after purchasing an additional 1,450,562 shares during the period. Bank of America Corp DE bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $4,214,868,000. Bank of New York Mellon Corp bought a new stake in shares of International Business Machines during the 2nd quarter valued at about $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in International Business Machines by 0.7% during 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 worth $2,143,245,000 after purchasing an additional 53,388 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.6%

IBM stock traded up $3.74 during midday trading on Tuesday, reaching $230.76. 5,118,995 shares of the company’s stock traded hands, compared to its average volume of 7,501,942. The company has a market cap of $217.41 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.16 and a beta of 0.73. The firm’s fifty day moving average price is $232.30 and its 200-day moving average price is $243.84. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. International Business Machines Corporation has a 52 week low of $199.19 and a 52 week high of $332.46.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 earnings per share. As a group, sell-side analysts forecast that International Business Machines Corporation will post 12.33 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is presently 59.98%.

Trending Headlines about International Business Machines

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

• Positive Sentiment: RBC reaffirmed its “outperform” rating on IBM and set a $270 price target, providing favorable analyst validation. Benzinga analyst rating report
• Positive Sentiment: IBM’s advancement to Stage C of DARPA’s quantum initiative highlights progress in a potentially significant long-term growth area. IBM is among the companies continuing to invest aggressively in quantum computing. DARPA quantum-computing stock report
• Positive Sentiment: IBM’s diversified revenue base and roughly 2.98% dividend yield may appeal to income-focused and retirement investors, particularly as some investors view the shares as overlooked relative to other technology stocks. Cisco versus IBM retirement-investing comparison

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This trade represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus lowered their target price on International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 16th. JPMorgan Chase & Co. reduced their price objective on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Citic Securities boosted their target price on shares of International Business Machines from $294.00 to $297.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley cut their target price on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $252.96.

International Business Machines Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.