International Business Machines Co. (NYSE:IBM) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 36.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,368 shares of the technology company’s stock after acquiring an additional 135,344 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of International Business Machines worth $97,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of International Business Machines in the 4th quarter worth about $1,019,009,000. International Assets Investment Management LLC increased its position in shares of International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after purchasing an additional 2,636,386 shares during the last quarter. Morgan Stanley increased its position in shares of International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the last quarter. Capital Wealth Planning LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $172,887,000. Finally, Junto Capital Management LP bought a new stake in shares of International Business Machines in the 4th quarter worth about $62,020,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBM shares. Morgan Stanley dropped their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. BNP Paribas assumed coverage on shares of International Business Machines in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price objective on shares of International Business Machines in a research report on Thursday, May 16th. Bank of America boosted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, BMO Capital Markets lowered their price objective on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.53.

International Business Machines Price Performance

NYSE IBM opened at $177.31 on Wednesday. International Business Machines Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The stock has a market cap of $162.88 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.27 and a beta of 0.71. The company has a 50-day moving average price of $169.82 and a two-hundred day moving average price of $176.66.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. Analysts forecast that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.