Caisse DE Depot ET Placement DU Quebec Purchases 91,468 Shares of International Business Machines Corporation $IBM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in International Business Machines Corporation by 38.3%, adding 91,468 shares to reach a total of 330,222 shares.
• Several brokerages have raised their price targets for IBM, with Wedbush increasing it from $300 to $325, while UBS Group set a target of $200 with a "sell" rating.
• IBM reported a quarterly earnings per share of $2.80, exceeding analysts' expectations of $2.65, alongside a revenue of $16.98 billion.

Caisse DE Depot ET Placement DU Quebec lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330,222 shares of the technology company's stock after purchasing an additional 91,468 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in International Business Machines were worth $82,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IBM. Brighton Jones LLC boosted its holdings in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in International Business Machines by 16.0% in the fourth quarter. Johnson Financial Group Inc. now owns 653 shares of the technology company's stock valued at $144,000 after acquiring an additional 90 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in International Business Machines by 5.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,415 shares of the technology company's stock valued at $311,000 after acquiring an additional 67 shares during the last quarter. Northern Trust Corp boosted its holdings 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 acquiring an additional 1,704,209 shares during the last quarter. Finally, Owen LaRue LLC lifted its stake in International Business Machines by 1.5% in the fourth quarter. Owen LaRue LLC now owns 5,121 shares of the technology company's stock valued at $1,126,000 after buying an additional 74 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Wedbush boosted their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. UBS Group boosted their price target on 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, Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $268.75.

International Business Machines Stock Performance

NYSE IBM opened at $239.69 on Tuesday. The company has a fifty day simple moving average of $268.77 and a 200 day simple moving average of $257.92. International Business Machines Corporation has a 12-month low of $195.90 and a 12-month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market cap of $222.77 billion, a P/E ratio of 38.91, a PEG ratio of 3.73 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share 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.

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