Benjamin Edwards Inc. Increases Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Benjamin Edwards Inc. has increased its stake in International Business Machines Corporation (IBM) by 6.5%, acquiring an additional 6,245 shares during the first quarter, bringing total holdings to 103,025 shares valued at approximately $25.6 million.
• Institutional investors collectively own 58.96% of IBM's stock, with significant increases in holdings reported from firms such as Capital World Investors and GAMMA Investing LLC during recent quarters.
• IBM recently reported $2.80 earnings per share for the quarter, exceeding estimates, with a year-on-year revenue growth of 7.7% to $16.98 billion.

Benjamin Edwards Inc. lifted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,025 shares of the technology company's stock after acquiring an additional 6,245 shares during the period. Benjamin Edwards Inc.'s holdings in International Business Machines were worth $25,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the period. Capital World Investors boosted its holdings in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Northern Trust Corp raised its position 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 buying an additional 1,704,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after buying an additional 722,582 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of International Business Machines by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after buying an additional 889,008 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Stifel Nicolaus increased their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Bank of America lowered their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Down 3.3%

International Business Machines stock traded down $8.28 during mid-day trading on Friday, reaching $241.88. The stock had a trading volume of 6,821,307 shares, compared to its average volume of 5,876,410. International Business Machines Corporation has a one year low of $189.00 and a one year high of $296.16. The company 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. The company has a 50-day moving average price of $276.14 and a two-hundred day moving average price of $258.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the business earned $2.43 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts expect 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.