First Trust Advisors LP boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 50.5% during the first quarter, HoldingsChannel reports. The fund owned 3,330,537 shares of the technology company’s stock after purchasing an additional 1,117,210 shares during the quarter. International Business Machines comprises 0.6% of First Trust Advisors LP’s holdings, making the stock its 19th largest position. First Trust Advisors LP’s holdings in International Business Machines were worth $807,289,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Family CFO Inc bought a new stake in shares of International Business Machines in the fourth quarter worth $25,000. Basepoint Wealth LLC acquired a new stake in International Business Machines in the fourth quarter valued at $25,000. Portus Wealth Advisors LLC bought a new position in International Business Machines during the 1st quarter worth $26,000. Joseph Group Capital Management acquired a new position in International Business Machines during the 4th quarter worth about $28,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at about $28,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on IBM shares. Robert W. Baird set a $230.00 price objective on International Business Machines in a research note on Tuesday. Argus lowered their price target on shares of International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Morgan Stanley boosted their price target on shares of International Business Machines from $267.00 to $293.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. KeyCorp lowered shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings cut shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $278.68.
More International Business Machines News
Here are the key news stories impacting International Business Machines this week:
- Positive Sentiment: Potential upside from AI, cloud, cybersecurity, and consulting demand, which some analysts still expect to support future revenue growth.
- Neutral Sentiment: IBM’s expanded quantum-computing collaboration with Singapore’s military, which could be strategically positive but is unlikely to move near-term results by itself. IBM (IBM) Stock Declines Despite Singapore Military Quantum Computing Partnership Expansion
- Neutral Sentiment: Investor attention ahead of the full Q2 earnings report, with traders watching for management’s commentary on pipeline strength, software growth, and dividend durability. IBM to Report Full Q2 Results After its Historic Stock Crash – Here’s What Investors Will Watch
- Negative Sentiment: Legal investigations from shareholder-rights firms following the guidance cut and stock plunge, which can keep sentiment weak and increase headline risk. International Business Machines Corporation (IBM) Securities Investigation Notice – Levi & Korsinsky
- Negative Sentiment: Concerns that IBM’s recent earnings scare may indicate weaker execution and pressure on the company’s dividend and growth story. After Its Earnings Scare, Is IBM’s Dividend Still Safe?
International Business Machines Trading Down 1.2%
NYSE IBM opened at $210.44 on Wednesday. The business has a 50 day simple moving average of $263.44 and a 200 day simple moving average of $262.05. International Business Machines Corporation has a one year low of $204.44 and a one year high of $332.46. The stock has a market capitalization of $197.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.30 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.
International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 earnings per share. Research analysts expect that International Business Machines Corporation will post 12.21 earnings per share for the current year.
International Business Machines Profile
International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.
IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.
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