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

by · The Markets Daily

Oppenheimer & Co. Inc. decreased its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 23.3% during the third quarter, according to its most recent disclosure with the Securities & 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Friday Financial increased its position in shares of International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company’s stock valued at $583,000 after purchasing an additional 35 shares during the last quarter. Trinity Wealth Management LLC lifted its position in International Business Machines by 2.3% in the 2nd quarter. Trinity Wealth Management LLC now owns 1,695 shares of the technology company’s stock worth $477,000 after buying an additional 38 shares during the last quarter. Pettinga Financial Advisors LLC lifted its position in International Business Machines by 3.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,090 shares of the technology company’s stock worth $307,000 after buying an additional 38 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in International Business Machines by 4.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 928 shares of the technology company’s stock worth $261,000 after buying an additional 41 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its stake in International Business Machines by 2.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,598 shares of the technology company’s stock worth $387,000 after buying an additional 44 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.2%

NYSE:IBM opened at $253.04 on Tuesday. The company has a 50-day moving average price of $233.06 and a 200-day moving average price of $251.16. The stock has a market cap of $239.15 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 2.50 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 1.57. International Business Machines Corporation has a 12 month low of $199.19 and a 12 month high of $332.46.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.10. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $16.82 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. International Business Machines’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that International Business Machines Corporation will post 12.41 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th. International Business Machines’s payout ratio is presently 57.63%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the company’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 transaction of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. HSBC cut their price objective on shares of International Business Machines from $175.00 to $174.00 in a research note on Friday, July 24th. Citigroup lifted their target price on shares of International Business Machines from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of International Business Machines from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Finally, Evercore reduced their price objective on International Business Machines from $310.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, July 16th. Twenty investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $266.12.

View Our Latest Report on IBM

Key Headlines Impacting 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?

About International Business Machines

(Free Report)

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.

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