American Century Companies Inc. Sells 37,992 Shares of International Business Machines Corporation $IBM

Key Points

• American Century Companies Inc. reduced its stake in International Business Machines Corporation (IBM) by 7.8%, holding 447,342 shares worth approximately $111 million after selling 37,992 shares.
• Several institutional investors made significant changes to their holdings in IBM during the first quarter, including Left Brain Wealth Management, which increased its stake by 1,547.8%.
• IBM's recent earnings report showed a profit of $2.80 per share, surpassing estimates, with revenues of $16.98 billion, which is a 7.7% increase year-over-year.

American Century Companies Inc. decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 447,342 shares of the technology company's stock after selling 37,992 shares during the quarter. American Century Companies Inc.'s holdings in International Business Machines were worth $111,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines during the first quarter worth $28,000. Dagco Inc. purchased a new stake in International Business Machines during the 1st quarter valued at about $31,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at $43,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush increased their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

NYSE IBM traded up $2.64 during trading hours on Friday, hitting $239.75. 4,339,819 shares of the company's stock traded hands, compared to its average volume of 6,848,571. International Business Machines Corporation has a 52 week low of $192.86 and a 52 week high of $296.16. The firm has a market capitalization of $222.82 billion, a P/E ratio of 38.92, a P/E/G ratio of 3.69 and a beta of 0.69. 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 business's fifty day moving average price is $273.29 and its two-hundred day moving average price is $258.66.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the company posted $2.43 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

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.