International Business Machines Corporation $IBM Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. cut its holdings in International Business Machines Corporation (NYSE:IBM) by 65.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 266,258 shares of the technology company’s stock after selling 505,851 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in International Business Machines were worth $58,570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. BlackRock Inc. purchased a new stake in shares of International Business Machines during the second quarter worth about $21,586,659,000. State Street Corp raised its position 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 last quarter. Bank of America Corp DE purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $4,214,868,000. Bank of New York Mellon Corp purchased a new position in shares of International Business Machines in the 2nd quarter valued at approximately $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in International Business Machines by 0.7% in the 2nd 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 in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.3%

Shares of NYSE:IBM opened at $244.91 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.57. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The stock has a market cap of $231.47 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.44 and a beta of 0.78. The business has a 50-day moving average price of $237.80 and a 200-day moving average price of $247.66.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. International Business Machines’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 earnings per share. Equities analysts predict that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed 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. This represents a $6.76 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, November 10th. International Business Machines’s payout ratio is presently 57.63%.

More International Business Machines News

Here’s some of the latest news about IBM:

• Positive Sentiment: IBM announced its next-generation Nighthawk quantum processor, designed to perform 10,000 operations across 520 qubits, with a roadmap to exceed 1,000 qubits in 2027. IBM says partners have run more than 34 billion circuits on the current generation, reporting speedups of up to 19 times versus earlier IBM processors. The advances strengthen IBM’s long-term position in quantum computing, though broad commercial benefits are likely still developing. IBM Quantum Nighthawk announcement
• 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
• Positive Sentiment: Partner LTM made its AI-powered quantum error-mitigation capability available through IBM’s Quantum Functions Catalog, expanding the platform’s tools and partner ecosystem. LTM quantum error mitigation announcement

Insider Buying and Selling

In other news, SVP Robert Thomas sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the sale, the senior vice president directly owned 47,800 shares of the company’s stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen raised shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Daiwa Securities Group decreased their price target on shares of International Business Machines from $247.00 to $217.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Jefferies Financial Group raised their price target on shares of International Business Machines from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Finally, Robert W. Baird boosted their price objective on shares of International Business Machines from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Nineteen 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.88.

About International Business Machines

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.