Charles Schwab Investment Management Inc. Cuts Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in International Business Machines Corporation (NYSE:IBM) by 0.5%, selling 35,394 shares and owning approximately 6.6 million shares valued at $1.65 billion at the end of the 1st quarter.
• Analysts have raised price targets for IBM, with Goldman Sachs and Royal Bank of Canada increasing their targets to $310.00 and $315.00 respectively, while the consensus rating for the stock is "Moderate Buy."
• IBM shares fell by 0.9%, trading at $249.91, and reported quarterly earnings of $2.80 per share, exceeding estimates and marking a 7.7% year-over-year revenue increase.

Charles Schwab Investment Management Inc. reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,629,862 shares of the technology company's stock after selling 35,394 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.71% of International Business Machines worth $1,648,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Dimensions Group Ltd. boosted its position in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares during the last quarter. DMC Group LLC lifted its holdings in shares of International Business Machines by 1.2% during the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after purchasing an additional 42 shares during the period. Range Financial Group LLC grew its stake in shares of International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the last quarter. Finally, Private Wealth Partners LLC increased its holdings in International Business Machines by 1.7% in the first quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock valued at $658,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on IBM. The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada raised their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. UBS Group upped their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Down 0.9%

Shares of NYSE:IBM traded down $2.37 during trading on Thursday, reaching $249.91. 6,248,903 shares of the stock were exchanged, compared to its average volume of 5,738,299. International Business Machines Corporation has a 1-year low of $187.00 and a 1-year high of $296.16. The stock has a fifty day moving average of $276.48 and a two-hundred day moving average of $257.89. 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 firm has a market cap of $232.26 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 3.89 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released 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. 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 net margin of 9.11% and a return on equity of 37.62%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.43 earnings per share. Research analysts anticipate 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.