International Business Machines Corporation $IBM Position Cut by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 421,064 shares of the technology company’s stock after selling 11,392 shares during the period. Fifth Third Bancorp’s holdings in International Business Machines were worth $92,605,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $21,586,659,000. State Street Corp lifted its stake in International Business Machines by 2.7% during the second quarter. State Street Corp now owns 56,045,055 shares of the technology company’s stock worth $15,760,430,000 after purchasing an additional 1,450,562 shares during the last quarter. Bank of America Corp DE bought a new position in International Business Machines during the second quarter worth $4,214,868,000. Bank of New York Mellon Corp acquired a new position in International Business Machines in the second quarter worth $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in International Business Machines by 0.7% in 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. Institutional investors and hedge funds own 58.96% of the company’s stock.

Top International Business Machines Stories

These are some of the IBM stories that stood out recently:

• 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
• Neutral Sentiment: IBM’s new digital-sovereignty index found widespread difficulty among enterprises in proving control over data and AI systems. This may highlight demand for IBM’s consulting and technology solutions, but also underscores customer risks as AI adoption and regulation grow. IBM Digital Sovereignty Index

International Business Machines Stock Down 1.3%

Shares of International Business Machines stock opened at $244.91 on Friday. The business’s fifty day moving average price is $237.80 and its two-hundred day moving average price is $247.66. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80. The company has a market capitalization of $231.47 billion, a P/E ratio of 20.88, a PEG ratio of 2.44 and a beta of 0.78. International Business Machines Corporation has a 1-year low of $199.19 and a 1-year high of $332.46.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.10. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. International Business Machines had a return on equity of 34.37% and a net margin of 15.99%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 earnings per share. As a group, research analysts forecast that International Business Machines Corporation will post 12.42 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be issued a $1.69 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $6.76 annualized dividend and a yield of 2.8%. International Business Machines’s dividend payout ratio is presently 57.63%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. Argus lowered their target price on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. Daiwa Securities Group dropped their price objective on shares of International Business Machines from $247.00 to $217.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Citigroup raised their target price on shares of International Business Machines from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Yorkville Ives began coverage on shares of International Business Machines in a report on Monday, October 5th. They issued an “outperform” rating and a $275.00 target price on the stock. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average price target of $266.88.

Insider Transactions at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 47,800 shares in the company, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.