Allspring Global Investments Holdings LLC Sells 7,513 Shares of International Business Machines Co. (NYSE:IBM)

Allspring Global Investments Holdings LLC decreased its position in shares of International Business Machines Co. (NYSE:IBM) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,069 shares of the technology company’s stock after selling 7,513 shares during the period. Allspring Global Investments Holdings LLC’s holdings in International Business Machines were worth $107,565,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in shares of International Business Machines in the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. grew its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC purchased a new stake in International Business Machines in the 3rd quarter worth about $29,000. Avondale Wealth Management boosted its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC grew its stake in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 0.5 %

International Business Machines stock opened at $255.86 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $236.58 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The business has a 50 day simple moving average of $230.70 and a 200-day simple moving average of $218.22. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $265.72.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IBM shares. UBS Group raised their price target on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein boosted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Stifel Nicolaus boosted their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines 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.