Berger Financial Group Inc Sells 2,577 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Berger Financial Group Inc reduced its stake in International Business Machines Corporation (IBM) by 7.3%, holding 32,759 shares worth approximately $8.15 million as of the latest reporting period.
• Analysts have mixed views on IBM, with several firms adjusting their price objectives, resulting in a consensus rating of "Moderate Buy" and an average price target of $268.75.
• IBM's recent earnings report showed a significant year-over-year growth, with EPS of $2.80, surpassing estimates, and a revenue of $16.98 billion for the quarter, indicating a 7.7% increase from the previous year.

Berger Financial Group Inc trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,759 shares of the technology company's stock after selling 2,577 shares during the period. Berger Financial Group Inc's holdings in International Business Machines were worth $8,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Vanguard Group Inc. raised its stake in International Business Machines by 1.4% during 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 in the last quarter. Capital World Investors lifted its holdings in International Business Machines by 413.5% during the 4th 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 during the last quarter. Northern Trust Corp boosted its position in 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 valued at $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 stake 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 valued at $1,783,281,000 after acquiring an additional 722,582 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in International Business Machines by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock valued at $1,282,550,000 after purchasing an additional 889,008 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group increased their price target on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Trading Down 3.3%

Shares of NYSE:IBM 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. The firm has a 50 day simple moving average of $276.14 and a two-hundred day simple moving average of $258.25. International Business Machines Corporation has a twelve month low of $189.00 and a twelve month high of $296.16. The firm has a market cap of $224.80 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly 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 net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the firm posted $2.43 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.