Alberta Investment Management Corp Makes New Investment in International Business Machines Corporation (NYSE:IBM)

Key Points

• Alberta Investment Management Corp has acquired a new stake in International Business Machines Corporation (IBM), purchasing 29,700 shares valued at approximately $7.39 million in the first quarter.
• Several other institutional investors also increased their holdings in IBM, with Howland Capital Management increasing its stake by 68.5% and Empirical Financial Services by an impressive 317.5%.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding analyst expectations, with a revenue of $16.98 billion compared to forecasts of $16.58 billion.

Alberta Investment Management Corp bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,700 shares of the technology company's stock, valued at approximately $7,385,000.

Several other institutional investors and hedge funds have also bought and sold shares of IBM. Howland Capital Management LLC increased its stake in International Business Machines by 68.5% in the first quarter. Howland Capital Management LLC now owns 12,708 shares of the technology company's stock valued at $3,160,000 after acquiring an additional 5,164 shares during the last quarter. Pasadena Private Wealth LLC boosted its holdings in shares of International Business Machines by 36.4% in the 1st quarter. Pasadena Private Wealth LLC now owns 2,630 shares of the technology company's stock valued at $654,000 after purchasing an additional 702 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of International Business Machines by 317.5% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 44,352 shares of the technology company's stock valued at $11,028,000 after purchasing an additional 33,728 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of International Business Machines by 3.8% during the 1st quarter. Harbour Investments Inc. now owns 7,069 shares of the technology company's stock worth $1,758,000 after buying an additional 256 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in shares of International Business Machines by 6.6% during the 1st quarter. MGO One Seven LLC now owns 28,073 shares of the technology company's stock worth $6,981,000 after buying an additional 1,729 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.2%

Shares of IBM stock opened at $250.03 on Friday. International Business Machines Corporation has a 1-year low of $181.81 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 stock has a market cap of $232.38 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 3.91 and a beta of 0.69. The stock has a 50-day moving average of $277.20 and a 200-day moving average of $257.11.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Royal Bank Of Canada raised their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Company 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.

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