Insight Advisors LLC PA lowered its holdings in International Business Machines Corporation (NYSE:IBM – Free Report) by 67.0% during the first quarter, Holdings Channel.com reports. The firm owned 1,736 shares of the technology company’s stock after selling 3,519 shares during the period. Insight Advisors LLC PA’s holdings in International Business Machines were worth $421,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of IBM. Norges Bank purchased a new stake in International Business Machines in the 4th quarter valued at about $2,446,429,000. Capital World Investors lifted its position in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in International Business Machines by 83.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company’s stock worth $1,663,847,000 after buying an additional 2,553,552 shares during the period. Corient Private Wealth LLC increased its position in shares of International Business Machines by 359.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company’s stock valued at $561,814,000 after acquiring an additional 1,484,026 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after acquiring an additional 1,439,824 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about International Business Machines
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%
International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. Equities research analysts anticipate that International Business Machines Corporation will post 12.21 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on IBM shares. JPMorgan Chase & Co. decreased their price objective on shares of International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Oppenheimer downgraded shares of International Business Machines from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 15th. Weiss Ratings cut International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Susquehanna began coverage on International Business Machines in a research report on Friday, July 10th. They set a “neutral” rating and a $303.00 price target for the company. Finally, Needham & Company LLC started coverage on International Business Machines in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $278.68.
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About International Business Machines
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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