NFP Retirement Inc. Sells 86 Shares of International Business Machines Corporation (NYSE:IBM)

NFP Retirement Inc. trimmed its stake in International Business Machines Corporation (NYSE:IBM) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,520 shares of the technology company’s stock after selling 86 shares during the period. NFP Retirement Inc.’s holdings in International Business Machines were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBM. Capital World Investors increased its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC increased its stake in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Nuveen LLC purchased a new stake in International Business Machines in the 1st quarter worth $960,386,000. Northern Trust Corp grew its position in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at about $302,564,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.8%

IBM stock opened at $234.41 on Wednesday. The company has a market cap of $217.86 billion, a P/E ratio of 38.05, a P/E/G ratio of 3.65 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $189.21 and a 52 week high of $296.16. The company’s 50-day moving average price is $274.96 and its 200 day moving average price is $258.39. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

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

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Stifel Nicolaus lifted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $268.75.

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.