ASR Vermogensbeheer N.V. Purchases Shares of 128,772 International Business Machines Corporation (NYSE:IBM)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in International Business Machines Corporation (IBM), purchasing 128,772 shares valued at approximately $32.02 million.
• Various institutional investors have increased or adjusted their stakes in IBM, with 58.96% of the stock now owned by hedge funds and other institutions.
• Recent analyst ratings show a shift in sentiment, with multiple brokerages upgrading IBM's stock to a "buy" rating and setting an average target price of $268.75.

ASR Vermogensbeheer N.V. purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 128,772 shares of the technology company's stock, valued at approximately $32,022,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines in the first quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the first quarter worth $45,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $43,000. Finally, Park Place Capital Corp boosted its position in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBM shares. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus increased their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price objective 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. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, International Business Machines has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Price Performance

IBM traded down $2.37 on Thursday, hitting $249.91. 6,248,903 shares of the company's stock traded hands, compared to its average volume of 5,738,299. The company's 50 day simple moving average is $276.48 and its 200-day simple moving average is $257.89. The firm has a market cap of $232.26 billion, a price-to-earnings ratio of 40.57, a P/E/G ratio of 3.89 and a beta of 0.69. International Business Machines Corporation has a one year low of $187.00 and a one 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.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.43 EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

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.