Cultivar Capital Inc. trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 65.9% in the third quarter, Holdings Channel reports. The fund owned 2,067 shares of the technology company’s stock after selling 3,995 shares during the period. International Business Machines accounts for about 0.3% of Cultivar Capital Inc.’s portfolio, making the stock its 26th biggest position. Cultivar Capital Inc.’s holdings in International Business Machines were worth $455,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in International Business Machines in the 2nd quarter valued at approximately $21,586,659,000. State Street Corp raised its holdings 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 raised its stake in shares of International Business Machines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of International Business Machines during the 2nd quarter worth approximately $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in International Business Machines by 0.7% during 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 buying an additional 53,388 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.
International Business Machines Stock Performance
IBM traded down $2.38 during trading on Wednesday, reaching $228.40. 4,037,782 shares of the company were exchanged, compared to its average volume of 7,484,449. The firm has a 50 day moving average of $232.22 and a 200 day moving average of $243.77. 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 $215.18 billion, a P/E ratio of 20.27, a PEG ratio of 2.16 and a beta of 0.73. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 10th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines’s dividend payout ratio is currently 59.98%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on IBM. UBS Group reiterated a “neutral” rating on shares of International Business Machines in a report on Tuesday. Barclays cut their target price on International Business Machines from $288.00 to $262.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. HSBC decreased their price objective on shares of International Business Machines from $175.00 to $174.00 in a research note on Friday, July 24th. Craig Hallum began coverage on International Business Machines in a report on Wednesday, August 19th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $270.00 target price on shares of International Business Machines in a research report on Tuesday. Eighteen 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.96.
Get Our Latest Stock Report on International Business Machines
Key International Business Machines News
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: IBM and Siemens announced a research collaboration to advance IBM’s nanostack transistor architecture. Siemens will contribute expertise in electronic design automation, process simulation, lithography optimization and manufacturing software, potentially strengthening IBM’s long-term semiconductor and computing technology pipeline. IBM and Siemens Collaborate on Research to Advance Nanostack Architecture
- Positive Sentiment: IBM and IonQ reportedly advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, providing validation for IBM’s quantum-computing efforts and a potential long-term growth opportunity, although near-term revenue remains uncertain. DARPA Just Revealed the 2 Best Quantum Computing Stocks to Buy Now
- Positive Sentiment: RBC reaffirmed an “outperform” rating and set a $270 price target, implying meaningful upside from the referenced market price. The endorsement may offer support after IBM’s recent weakness.
- Neutral Sentiment: IBM’s first-half operating cash flow increased to $7.77 billion from $6.07 billion, but nearly all of the improvement came from changes in financing receivables. That boosts liquidity, while raising questions about how sustainable the cash-flow growth is without stronger software and consulting performance. IBM: Is Customer Financing Flattering Its Cash Recovery?
- Negative Sentiment: Investors are focused on the Q3 earnings test, with AI and hybrid-cloud opportunities competing against intensifying competition, margin pressure and IBM’s still-premium valuation. Analysts expect earnings growth but question whether the company has the ingredients for a meaningful earnings beat. IBM Stock Before Q3 Earnings Release
Insiders Place Their Bets
In other news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.
International Business Machines Company Profile
International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.
IBM’s portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.
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