Biondo Investment Advisors LLC Boosts Stock Position in International Business Machines Corporation $IBM

Key Points

• Biondo Investment Advisors LLC increased its stake in International Business Machines Corporation (IBM) by 5.7% during the first quarter, holding 57,453 shares valued at approximately $14.3 million.
• Several institutional investors have also increased their positions in IBM, with the company now being over 58.96% owned by institutional investors and hedge funds.
• IBM reported $2.80 earnings per share for the last quarter, surpassing analysts' expectations, with a 7.7% year-over-year increase in revenue.

Biondo Investment Advisors LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,453 shares of the technology company's stock after purchasing an additional 3,101 shares during the period. International Business Machines makes up 2.0% of Biondo Investment Advisors LLC's portfolio, making the stock its 14th largest position. Biondo Investment Advisors LLC's holdings in International Business Machines were worth $14,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. GAMMA Investing LLC boosted its holdings in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. GQG Partners LLC purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $1,040,057,000. Nuveen LLC bought a new position in shares of International Business Machines in the first quarter worth approximately $960,386,000. 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 buying an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in International Business Machines during the 4th quarter valued at $302,564,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on IBM shares. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Bank of America decreased their price target on shares of 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. Finally, Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of NYSE IBM traded up $2.2890 during mid-day trading on Friday, reaching $241.6890. The company's stock had a trading volume of 3,129,925 shares, compared to its average volume of 5,342,394. The firm has a market capitalization of $224.63 billion, a PE ratio of 39.24, a P/E/G ratio of 3.73 and a beta of 0.69. The stock has a fifty day moving average of $269.61 and a two-hundred day moving average of $258.01. International Business Machines Corporation has a 52 week low of $194.39 and a 52 week high of $296.16. 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 results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $16.58 billion. During the same period in the previous year, the firm posted $2.43 EPS. International Business Machines's revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.