Affinity Investment Advisors LLC Sells 2,048 Shares of International Business Machines Corporation $IBM

Key Points

• Affinity Investment Advisors LLC reduced its shareholding in International Business Machines Corporation (IBM) by 20.2%, decreasing its holdings to 8,090 shares, valued at approximately $2.01 million.
• The company reported $2.80 earnings per share for the recent quarter, beating analysts' expectations and showing a 7.7% increase in revenue year-over-year.
• Research analysts currently hold a consensus rating of "Moderate Buy" on IBM, with an average target price of $268.75.

Affinity Investment Advisors LLC lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,090 shares of the technology company's stock after selling 2,048 shares during the period. International Business Machines makes up about 1.6% of Affinity Investment Advisors LLC's portfolio, making the stock its 9th biggest holding. Affinity Investment Advisors LLC's holdings in International Business Machines were worth $2,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines in the 1st quarter worth $396,000. Left Brain Wealth Management LLC raised its stake in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after acquiring an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC raised its stake in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after acquiring an additional 2,399 shares during the last quarter. Wedbush Securities Inc. raised its stake in International Business Machines by 5.6% in the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after acquiring an additional 3,276 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in International Business Machines in the 1st quarter worth $4,608,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM traded up $1.0990 during midday trading on Wednesday, hitting $242.3790. 2,496,956 shares of the company were exchanged, compared to its average volume of 4,741,235. International Business Machines Corporation has a 1-year low of $194.12 and a 1-year high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $225.27 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. The company's 50 day simple moving average is $271.93 and its 200 day simple moving average is $258.43.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the firm earned $2.43 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Royal Bank Of Canada raised their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and an average 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.