Callan Family Office LLC Lowers Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Callan Family Office LLC reduced its stake in International Business Machines Corporation (IBM) by 66.2%, now holding 2,983 shares worth approximately $742,000.
• IBM's recent quarterly earnings showed an EPS of $2.80, exceeding expectations, with a revenue of $16.98 billion, representing a 7.7% year-over-year increase.
• Analysts have mixed ratings on IBM, with the average price target currently at $268.75, reflecting a consensus of "Moderate Buy" among ten analysts.

Callan Family Office LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,983 shares of the technology company's stock after selling 5,839 shares during the quarter. Callan Family Office LLC's holdings in International Business Machines were worth $742,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter valued at about $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines in the 1st quarter valued at about $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the 1st quarter valued at about $45,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $43,000. Finally, Park Place Capital Corp raised its stake in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 2.3%

NYSE:IBM opened at $240.24 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company's fifty day moving average price is $274.46 and its 200-day moving average price is $258.27. International Business Machines Corporation has a 1-year low of $190.73 and a 1-year high of $296.16. The firm has a market capitalization of $223.28 billion, a P/E ratio of 39.00, a PEG ratio of 3.62 and a beta of 0.69.

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 the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group raised their target price 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. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wedbush upped their target price 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. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and an average price target of $268.75.

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.

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