International Business Machines Corporation $IBM Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,303 shares of the technology company’s stock after selling 21,716 shares during the period. Oppenheimer & Co. Inc.’s holdings in International Business Machines were worth $15,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in International Business Machines during the second quarter worth about $21,586,659,000. Bank of America Corp DE purchased a new stake in International Business Machines in the second quarter worth about $4,214,868,000. Bank of New York Mellon Corp bought a new position in shares of International Business Machines during the second quarter valued at approximately $2,606,782,000. Legal & General Group Plc purchased a new position in shares of International Business Machines during the second quarter valued at approximately $1,874,733,000. Finally, Wellington Management Group LLP lifted its holdings in shares of International Business Machines by 2,362.2% during the second quarter. Wellington Management Group LLP now owns 6,549,393 shares of the technology company’s stock valued at $1,841,755,000 after purchasing an additional 6,283,395 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on IBM. HSBC dropped their price target on International Business Machines from $175.00 to $174.00 in a research report on Friday, July 24th. Bank of America lowered their price objective on International Business Machines from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Susquehanna lifted their price objective on International Business Machines from $235.00 to $256.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Truist Financial set a $260.00 target price on International Business Machines in a report on Thursday. Finally, Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Twenty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.12.

Trending Headlines about International Business Machines

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

• Positive Sentiment: IBM’s software segment and hybrid-cloud and enterprise AI consulting businesses remain the company’s main growth engines, supporting the case that its multiyear transformation is generating more durable cash flow. IBM Fixed Its Plumbing; Intel Became Big Tech’s Real Structural Trap
• Positive Sentiment: Quantum computing is being highlighted as a potential long-term catalyst. Progress in the technology could create a significant new growth opportunity beyond IBM’s existing cloud and consulting operations, although commercialization remains ahead. IBM Continues to Plug Along, but Its Quantum Computing Bet Could Be the Real Catalyst
• Positive Sentiment: CEO Arvind Krishna’s view that open-weight AI models deliver performance close to frontier models at substantially lower cost could encourage broader enterprise AI adoption, potentially benefiting IBM’s consulting and implementation services. IBM CEO Says Open AI Models Are 90% as Good as Frontier Models
• Neutral Sentiment: IBM is attracting increased investor attention, while analysts continue to assess its earnings outlook and competitive position relative to Salesforce and other technology companies. IBM Is Attracting Investor Attention
• Negative Sentiment: Valuation is a concern: commentary questions whether IBM is already priced above its fundamentals and whether investors are paying too much relative to rivals. That could limit near-term upside, particularly because quantum computing is a longer-term opportunity rather than an immediate earnings driver. Are You Overpaying For IBM Stock Versus Its Rivals?

Insider Activity

In other news, SVP Robert Thomas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

International Business Machines Trading Down 0.2%

Shares of NYSE:IBM opened at $253.04 on Tuesday. The company has a market cap of $239.15 billion, a P/E ratio of 21.57, a PEG ratio of 2.50 and a beta of 0.73. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. 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 $233.06 and its 200-day moving average price is $251.16.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping 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 the consensus estimate of $16.82 billion. During the same period last year, the company earned $2.65 EPS. International Business Machines’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that International Business Machines Corporation will post 12.41 earnings per share for the current year.

International Business Machines Dividend Announcement

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 dividend of $1.69 per share. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 annualized dividend and a yield of 2.7%. International Business Machines’s dividend payout ratio is currently 57.63%.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.