AXS Investments LLC Sells 1,466 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• AXS Investments LLC has reduced its stake in International Business Machines Corporation (NYSE:IBM) by 7.9%, now owning 17,018 shares valued at approximately $4.23 million.
• Recent analyst reports showed mixed ratings for IBM, with Bank of America reducing its price target from $320 to $310 while maintaining a "buy" rating, contrasting with a "hold" rating from Jefferies Financial Group.
• IBM's most recent earnings report revealed $2.80 earnings per share, exceeding estimates, and a 7.7% increase in revenue year-over-year, totaling $16.98 billion.

AXS Investments LLC lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,018 shares of the technology company's stock after selling 1,466 shares during the period. International Business Machines makes up about 1.2% of AXS Investments LLC's investment portfolio, making the stock its 16th biggest position. AXS Investments LLC's holdings in International Business Machines were worth $4,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the first quarter worth approximately $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines during the 1st quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines during 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 valued at $43,000. Finally, Park Place Capital Corp grew its position in shares of International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after purchasing an additional 58 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Finally, Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Down 0.9%

NYSE:IBM traded down $2.37 during trading hours on Thursday, reaching $249.91. The company's stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. 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 company has a market cap of $232.26 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth 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 business's 50-day moving average is $276.48 and its 200-day moving average is $257.89.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during 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%. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 earnings per share. Equities research analysts predict 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.