Banco Santander S.A. Trims Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Banco Santander S.A. reduced its stake in IBM by 17.8%, ending the first quarter with 107,083 shares, valued at approximately $26.6 million.
• Several institutional investors significantly increased their holdings in IBM, with Capital World Investors raising their position by 413.5% and GAMMA Investing LLC growing their stake by 29,564.2%.
• IBM's latest earnings report indicated a strong performance with an EPS of $2.80, exceeding expectations and showing a 7.7% year-over-year revenue growth.

Banco Santander S.A. lowered its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,083 shares of the technology company's stock after selling 23,210 shares during the quarter. Banco Santander S.A.'s holdings in International Business Machines were worth $26,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of International Business Machines in the fourth quarter worth $302,564,000. Finally, First Trust Advisors LP increased its stake in shares of International Business Machines by 26.4% in the fourth quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock worth $884,593,000 after purchasing an additional 840,064 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Down 1.2%

NYSE IBM opened at $250.03 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $232.38 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.91 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The stock has a 50 day moving average price of $277.20 and a 200-day moving average price of $257.11.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results 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 during 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 company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.

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