AIA Group Ltd Acquires 5,828 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• AIA Group Ltd increased its stake in International Business Machines Corporation (IBM) by 32.6% in Q1, holding a total of $5.89 million in shares after acquiring an additional 5,828 shares.
• Multiple hedge funds have heavily invested in IBM, with Capital World Investors increasing its holdings by 413.5%, and GAMMA Investing LLC raising its stake by over 29,000% during the same period.
• IBM's stock value declined by 3.3%, with the company reporting a Q2 earnings per share of $2.80, surpassing estimates and showing a year-over-year revenue growth of 7.7% to $16.98 billion.

AIA Group Ltd increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 32.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,678 shares of the technology company's stock after buying an additional 5,828 shares during the period. AIA Group Ltd's holdings in International Business Machines were worth $5,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 valued at $10,940,520,000 after buying an additional 4,384,958 shares during the period. Nuveen LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at about $960,386,000. Northern Trust Corp boosted its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at about $302,564,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research reports. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. JPMorgan Chase & Co. lifted their price objective 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. Stifel Nicolaus lifted their price objective 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. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Up 2.3%

Shares of IBM stock traded up $5.47 during trading hours on Wednesday, reaching $240.24. 5,655,239 shares of the stock traded hands, compared to its average volume of 4,778,919. International Business Machines Corporation has a 1-year low of $190.73 and a 1-year high of $296.16. The business has a fifty day moving average price of $274.96 and a 200 day moving average price of $258.39. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $223.28 billion, a PE ratio of 39.00, a PEG ratio of 3.65 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS 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.