International Business Machines Corporation (NYSE:IBM) Shares Purchased by Allianz SE

Key Points

• Allianz SE increased its stake in International Business Machines Corporation (IBM) by 24.6%, now owning shares valued at approximately $3.79 million.
• International Business Machines reported earnings of $2.80 per share, surpassing analysts' expectations of $2.65, along with a 7.7% revenue increase year-over-year.
• Institutional investors now hold 58.96% of IBM's stock, indicating strong interest from large financial entities.

Allianz SE raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,231 shares of the technology company's stock after purchasing an additional 3,006 shares during the period. Allianz SE's holdings in International Business Machines were worth $3,787,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines in the 1st quarter worth about $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter worth $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines during the fourth quarter worth $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock traded down $2.14 during trading hours on Tuesday, hitting $249.84. The stock had a trading volume of 967,608 shares, compared to its average volume of 4,662,593. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $232.20 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $183.64 and a 1-year high of $296.16. The stock's fifty day moving average is $277.06 and its two-hundred day moving average is $257.80.

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

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley decreased their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. 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 issued a strong buy rating to the company's stock. According to MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

About International Business Machines

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.