Peninsula Asset Management Inc. Invests $2.78 Million in International Business Machines Corporation (NYSE:IBM)

Key Points

• Peninsula Asset Management Inc. acquired 11,186 shares of International Business Machines Corporation (IBM) valued at approximately $2.78 million, making it the 24th largest holding in their investment portfolio.
• The company reported earnings of $2.80 per share for the last quarter, exceeding analysts' estimates and showing a revenue increase of 7.7% compared to the same period last year.
• Institutional investors own 58.96% of IBM's stock, and the average analyst rating for the company is classified as a "Moderate Buy" with a consensus target price of $268.75.

Peninsula Asset Management Inc. acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,186 shares of the technology company's stock, valued at approximately $2,782,000. International Business Machines comprises about 1.5% of Peninsula Asset Management Inc.'s investment portfolio, making the stock its 24th biggest position.

Other large investors also recently modified their holdings of the company. Capital World Investors increased its position 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Northern Trust Corp grew its stake in International Business Machines by 18.6% in 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 acquiring an additional 1,704,209 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after acquiring an additional 722,582 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of International Business Machines by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,083,665 shares of the technology company's stock valued at $1,117,548,000 after acquiring an additional 99,510 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBM has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price objective 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. UBS Group lifted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus raised 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 report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Price Performance

NYSE:IBM traded down $4.71 during mid-day trading on Friday, hitting $248.44. 751,347 shares of the stock traded hands, compared to its average volume of 4,622,269. The business's 50-day moving average price is $277.37 and its 200 day moving average price is $256.88. The company has a market cap of $230.90 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 4.02 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping 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 company 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 firm earned $2.43 earnings per share. International Business Machines's revenue was up 7.7% on a year-over-year basis. On average, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.