International Business Machines Corporation $IBM Shares Sold by Alliance Wealth Advisors LLC UT

Key Points

• Alliance Wealth Advisors LLC UT has reduced its stake in International Business Machines Corporation (IBM) by 9.4%, now holding 13,983 shares worth approximately $3,477,000.
• IBM reported earnings of $2.80 per share, exceeding analyst expectations of $2.65, with revenue of $16.98 billion for the quarter, up 7.7% year-over-year.
• Equities research analysts have varying outlooks on IBM, with price targets ranging from $233 to $310, and a consensus average rating of "Moderate Buy" with a target price of $268.75.

Alliance Wealth Advisors LLC UT cut its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,983 shares of the technology company's stock after selling 1,444 shares during the quarter. Alliance Wealth Advisors LLC UT's holdings in International Business Machines were worth $3,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Capital World Investors raised its holdings in shares of 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 worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. GAMMA Investing LLC raised 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 worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. GQG Partners LLC purchased a new position in shares of International Business Machines in the 1st quarter worth about $1,040,057,000. Nuveen LLC purchased a new position in shares of International Business Machines in the 1st quarter worth about $960,386,000. Finally, Northern Trust Corp raised 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 worth $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. Morgan Stanley cut their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group raised their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Up 1.1%

IBM stock traded up $2.64 during midday trading on Friday, hitting $239.75. 4,339,819 shares of the company's stock were exchanged, compared to its average volume of 6,848,571. 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 12-month low of $192.86 and a 12-month high of $296.16. The firm has a 50 day moving average price of $273.29 and a 200-day moving average price of $258.66. The stock has a market capitalization of $222.82 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during 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%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 EPS. On average, analysts anticipate 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.