Yes, of course is possible, the only thing you should care is about the hardware configuration of the virtual machine (memory, cpu, connected dispositives, etc) that always can be configured to meet the limitations of another PC.
The Virtual Machines are stored in the specified folder, by default C:\Users\#UserName#\Documents\Virtual Machines
if I remember good.
You can copy an entire folder containing a Virtual Machine to other location (to another PC), then import the virtual machine through the VMWare Player user-interface or just doing double-click on the file that ends with ".vmx" extension, then VMWare Player will ask you if you moved or copied the virtual machine, really no matter what you choose if you only have one "copy" of that virtual machine.