64,616 Shares in International Business Machines Corporation (NYSE:IBM) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has invested approximately $16.07 million in International Business Machines Corporation (IBM), purchasing 64,616 shares, making it the 17th largest holding in their portfolio.
• Institutional investors collectively own 58.96% of IBM stock, with multiple funds acquiring new positions recently, indicating increasing interest in the company.
• Analysts have upgraded IBM’s ratings, with targets increasing significantly; for instance, Wedbush raised its target from $300 to $325, while Royal Bank of Canada lifted its target to $315.

Banque Cantonale Vaudoise acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,616 shares of the technology company's stock, valued at approximately $16,067,000. International Business Machines accounts for about 0.7% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in International Business Machines by 63.1% in the first quarter. Geneos Wealth Management Inc. now owns 20,077 shares of the technology company's stock valued at $4,992,000 after purchasing an additional 7,770 shares during the period. N.E.W. Advisory Services LLC lifted its position in shares of International Business Machines by 3.0% during the 1st quarter. N.E.W. Advisory Services LLC now owns 17,822 shares of the technology company's stock valued at $4,432,000 after acquiring an additional 513 shares during the period. TCTC Holdings LLC lifted its position in shares of International Business Machines by 0.3% during the 1st quarter. TCTC Holdings LLC now owns 353,773 shares of the technology company's stock valued at $87,969,000 after acquiring an additional 1,196 shares during the period. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 22.0% during the 1st quarter. Meeder Asset Management Inc. now owns 455 shares of the technology company's stock valued at $113,000 after acquiring an additional 82 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in shares of International Business Machines by 13.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 19,909 shares of the technology company's stock valued at $4,951,000 after acquiring an additional 2,395 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Down 1.7%

Shares of NYSE:IBM traded down $4.36 during midday trading on Friday, hitting $248.79. 7,315,580 shares of the company's stock traded hands, compared to its average volume of 4,666,929. 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 cap of $231.23 billion, a PE ratio of 40.41, a P/E/G ratio of 4.02 and a beta of 0.69. The firm's fifty day moving average price is $277.37 and its two-hundred day moving average price is $256.88. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results 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. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.43 EPS. On average, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IBM. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. 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 raised 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, KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.