Fideuram Intesa Sanpaolo Private Banking S.P.A. Reduces Stock Holdings in International Business Machines Corporation $IBM

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 59.4% during the first quarter, Holdings Channel reports. The firm owned 3,407 shares of the technology company’s stock after selling 4,980 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in International Business Machines were worth $826,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of International Business Machines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after buying an additional 1,439,824 shares during the last quarter. State Street Corp raised its stake in International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC lifted its position in International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after acquiring an additional 336,069 shares during the last quarter. Capital World Investors boosted its stake in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares in the last quarter. Finally, Norges Bank acquired a new position in International Business Machines in the fourth quarter valued at $2,446,429,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Wedbush set a $350.00 target price on International Business Machines in a research report on Tuesday, June 2nd. Piper Sandler upgraded International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Stifel Nicolaus set a $290.00 price target on International Business Machines in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised International Business Machines from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $270.00 to $291.00 in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.76.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $288.95 on Friday. The company has a 50-day simple moving average of $256.99 and a 200-day simple moving average of $266.36. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The stock has a market capitalization of $271.58 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is 59.77%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.