Bristlecone Advisors LLC Makes New Investment in International Business Machines Corporation (NYSE:IBM)

Key Points

• Bristlecone Advisors LLC has acquired a new stake in International Business Machines Corporation (IBM), purchasing 2,314 shares valued at approximately $575,000 during the 1st quarter.
• Major investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their holdings in IBM, indicating growing institutional interest.
• IBM's recent earnings report revealed an EPS of $2.80, surpassing analyst estimates, with a year-over-year revenue increase of 7.7%.

Bristlecone Advisors LLC purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,314 shares of the technology company's stock, valued at approximately $575,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the first quarter worth approximately $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines in the 1st quarter valued at $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines during the first quarter worth $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Park Place Capital Corp grew its stake in shares of International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after acquiring an additional 58 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. The Goldman Sachs Group lifted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Down 3.3%

Shares of NYSE IBM traded down $8.28 during trading on Friday, hitting $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 fifty day moving average of $276.14 and a two-hundred day moving average of $258.25. The company has a market capitalization of $224.80 billion, a PE ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69. 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 Corporation has a 12 month low of $189.00 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast 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.