Basso Capital Management L.P. Takes $622,000 Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Basso Capital Management L.P. has acquired a new stake in International Business Machines Corporation (IBM), purchasing 2,500 shares valued at approximately $622,000, which now makes up about 0.5% of its portfolio.
• Capital World Investors increased its stake in IBM by 413.5% in the last quarter, holding nearly 11.98 million shares valued at approximately $2.63 billion.
• IBM's latest earnings report showed an earnings per share (EPS) of $2.80, surpassing expectations, with revenue reported at $16.98 billion, up 7.7% year-over-year.

Basso Capital Management L.P. purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,500 shares of the technology company's stock, valued at approximately $622,000. International Business Machines accounts for approximately 0.5% of Basso Capital Management L.P.'s investment portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. raised its holdings in shares of International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares in the last quarter. DMC Group LLC raised its holdings in shares of International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after acquiring an additional 42 shares in the last quarter. Range Financial Group LLC raised its holdings in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after acquiring an additional 43 shares in the last quarter. Finally, Private Wealth Partners LLC raised its holdings in shares of International Business Machines by 1.7% during the 1st quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock worth $658,000 after acquiring an additional 43 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBM. Royal Bank Of Canada upped their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Bank of America decreased their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Trading Down 3.3%

IBM stock traded down $8.28 during midday trading on Friday, reaching $241.88. The company's stock had a trading volume of 6,821,307 shares, compared to its average volume of 5,876,410. 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 stock has a fifty day simple moving average of $276.14 and a two-hundred day simple moving average of $258.25. International Business Machines Corporation has a 1 year low of $189.00 and a 1 year high of $296.16. The firm has a market capitalization of $224.80 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines 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.