Asset Management Group Inc. Purchases 1,599 Shares of International Business Machines Corporation $IBM

Key Points

• Asset Management Group Inc. increased its holdings in International Business Machines Corporation (IBM) by 114.1% in the first quarter, now owning 3,001 shares valued at $746,000.
• Multiple institutional investors have also acquired or boosted their positions in IBM, with 58.96% of the stock currently owned by these investors.
• IBM's recent earnings report showed a 7.7% increase in revenue compared to the previous year, with earnings per share reported at $2.80, exceeding estimates.

Asset Management Group Inc. grew its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 114.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,001 shares of the technology company's stock after acquiring an additional 1,599 shares during the quarter. Asset Management Group Inc.'s holdings in International Business Machines were worth $746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines during the first quarter worth $396,000. Brooklyn Investment Group boosted its stake in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the period. Left Brain Wealth Management LLC boosted its stake in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC boosted its stake in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after buying an additional 3,276 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.7%

NYSE:IBM opened at $241.01 on Wednesday. International Business Machines Corporation has a twelve month low of $193.75 and a twelve month high of $296.16. The company has a market cap of $223.99 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. The stock has a fifty day simple moving average of $271.93 and a 200-day simple moving average of $258.43. 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 released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the company earned $2.43 earnings per share. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush lifted their price objective 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. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. UBS Group lifted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.

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