International Business Machines Corporation (NYSE:IBM) Shares Sold by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT cut its position in International Business Machines Corporation (NYSE:IBM) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,983 shares of the technology company’s stock after selling 1,444 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in International Business Machines were worth $3,477,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the 1st quarter worth approximately $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines during the 1st quarter worth approximately $28,000. Dagco Inc. acquired a new stake in International Business Machines during the 1st quarter worth approximately $31,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Melius Research raised International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Stifel Nicolaus increased their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.75.

International Business Machines Stock Performance

NYSE IBM opened at $239.75 on Friday. International Business Machines Corporation has a 1-year low of $192.86 and a 1-year high of $296.16. The company has a market capitalization of $222.82 billion, a P/E ratio of 38.92, a PEG ratio of 3.65 and a beta of 0.69. The business has a 50 day moving average price of $273.29 and a 200 day moving average price of $258.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the business posted $2.43 EPS. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

About International Business Machines

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.