Allspring Global Investments Holdings LLC trimmed its position in International Business Machines Corporation (NYSE:IBM – Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 292,200 shares of the technology company’s stock after selling 53,665 shares during the period. Allspring Global Investments Holdings LLC’s holdings in International Business Machines were worth $71,046,000 as of its most recent SEC filing.
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A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Family CFO Inc acquired a new stake in shares of International Business Machines during the fourth quarter worth $25,000. Basepoint Wealth LLC purchased a new position in International Business Machines during the fourth quarter valued at approximately $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines in the 1st quarter valued at approximately $26,000. Joseph Group Capital Management purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Finally, Cornerstone Financial Management LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $28,000. Institutional investors own 58.96% of the company’s stock.
Key Headlines Impacting International Business Machines
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment:IBM launched new Power server products aimed at automation, app modernization, and local AI inferencing, which could support its enterprise AI push over time.
- Positive Sentiment:JPMorgan kept an overweight rating on IBM even after cutting its price target to $250, indicating Wall Street still sees upside from current levels.
- Positive Sentiment:Some analysts say the stock’s sharp decline may have pushed it into oversold territory, which could attract bargain hunters if sentiment stabilizes.
- Neutral Sentiment:IBM heads into its July 22 earnings report with investors focused on whether the company can validate its AI and cloud momentum after the warning.
- Neutral Sentiment:Analysts at Zacks and others are debating whether the selloff is an opportunity or a sign to wait, reflecting uncertainty rather than a clear fundamental shift.
- Negative Sentiment:IBM’s preliminary Q2 miss and weak near-term outlook are the main reasons the stock is falling, as they suggest slower growth and margin pressure.
- Negative Sentiment:Multiple law firms have announced securities-fraud investigations after the plunge, which can keep negative headlines around the stock.
- Negative Sentiment:Analyst sentiment is turning more cautious, with some estimate reductions and technical warnings reinforcing bearish momentum.
International Business Machines Trading Down 3.0%
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Shares of IBM opened at $212.54 on Friday. The stock’s fifty day simple moving average is $263.84 and its 200-day simple moving average is $263.58. The firm has a market capitalization of $199.76 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.68. International Business Machines Corporation has a 12-month low of $204.44 and a 12-month high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.
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