Channing Capital Management LLC Sells 3,854 Shares of International Business Machines Corporation $IBM

Key Points

• Channing Capital Management LLC reduced its stake in IBM by 10.3%, selling 3,854 shares, leaving them with 33,567 shares valued at $8.34 million.
• Several institutional investors increased their holdings in IBM, with GAMMA Investing LLC making a significant purchase of 4,384,958 shares during the same quarter.
• IBM's latest earnings report showed earnings per share of $2.80, exceeding forecasts, along with 7.7% year-over-year revenue growth of $16.98 billion.

Channing Capital Management LLC decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,567 shares of the technology company's stock after selling 3,854 shares during the period. Channing Capital Management LLC's holdings in International Business Machines were worth $8,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of 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 worth $10,940,520,000 after buying an additional 4,384,958 shares during the period. GQG Partners LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $1,040,057,000. Nuveen LLC acquired a new position in shares of International Business Machines in the first quarter valued at approximately $960,386,000. Northern Trust Corp grew its position 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 valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $302,564,000. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on IBM. Royal Bank Of Canada upped their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their target price on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $268.75.

International Business Machines Trading Up 0.5%

Shares of IBM stock opened at $242.3790 on Thursday. The stock's fifty day moving average price is $271.15 and its two-hundred day moving average price is $258.32. The company has a market cap of $225.27 billion, a PE ratio of 39.35, a P/E/G ratio of 3.71 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $194.12 and a fifty-two week high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The firm 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 company's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Equities 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.

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