Aberdeen Group plc Trims Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Aberdeen Group plc reduced its stake in IBM by 27.2%, owning 1,018,244 shares worth approximately $253.49 million, making it the company's 29th largest holding.
• IBM's recent quarterly earnings exceeded analysts' expectations, with an EPS of $2.80 and a revenue of $16.98 billion, representing a 7.7% year-over-year increase.
• Analysts have mixed ratings on IBM, with a consensus rating of "Moderate Buy" and an average price target of $268.75.

Aberdeen Group plc lessened its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 27.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,018,244 shares of the technology company's stock after selling 381,049 shares during the period. International Business Machines accounts for approximately 0.5% of Aberdeen Group plc's investment portfolio, making the stock its 29th largest holding. Aberdeen Group plc owned about 0.11% of International Business Machines worth $253,492,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Tacita Capital Inc grew its stake in shares of International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock worth $58,000 after acquiring an additional 40 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of International Business Machines by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company's stock worth $1,270,022,000 after acquiring an additional 24,790 shares during the last quarter. Horizon Investments LLC grew its stake in shares of International Business Machines by 1.7% during the first quarter. Horizon Investments LLC now owns 28,315 shares of the technology company's stock worth $6,994,000 after acquiring an additional 467 shares during the last quarter. Seaview Investment Managers LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $287,000. Finally, Trivium Point Advisory LLC grew its stake in shares of International Business Machines by 17.4% during the first quarter. Trivium Point Advisory LLC now owns 10,057 shares of the technology company's stock worth $2,501,000 after acquiring an additional 1,488 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. UBS Group boosted their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Bank of America decreased their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Trading Up 1.1%

NYSE:IBM traded up $2.64 during trading hours on Friday, hitting $239.75. The company had a trading volume of 4,339,819 shares, compared to its average volume of 6,855,263. The company has a market cap of $222.82 billion, a P/E ratio of 38.92, a P/E/G ratio of 3.65 and a beta of 0.69. 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 Corporation has a 1 year low of $192.86 and a 1 year high of $296.16. The company has a 50-day moving average of $273.29 and a 200 day moving average of $258.46.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. International Business Machines's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 EPS. Sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current 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.