Chicago Partners Investment Group LLC Grows Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Chicago Partners Investment Group LLC increased its stake in International Business Machines Corporation (IBM) by 9.4% during the first quarter, now owning 21,546 shares valued at approximately $5.46 million.
• As of the latest data, 58.96% of IBM's stock is owned by hedge funds and institutional investors, reflecting significant interest in the company.
• IBM reported a quarterly earnings per share of $2.80, exceeding analysts' expectations, with a revenue increase of 7.7% year-over-year to $16.98 billion.

Chicago Partners Investment Group LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,546 shares of the technology company's stock after buying an additional 1,847 shares during the quarter. Chicago Partners Investment Group LLC's holdings in International Business Machines were worth $5,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter valued at about $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines in the 1st quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in International Business Machines in the 4th quarter worth about $43,000. Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines during the 4th quarter worth approximately $43,000. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBM. Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised their target price 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. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada increased their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

International Business Machines stock traded down $2.37 during mid-day trading on Thursday, reaching $249.91. The company's stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. The company has a market capitalization of $232.26 billion, a P/E ratio of 40.57, a PEG ratio of 3.89 and a beta of 0.69. The firm's fifty day moving average price is $276.48 and its two-hundred day moving average price is $257.89. International Business Machines Corporation has a 12-month low of $187.00 and a 12-month 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 announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.43 earnings per share. Sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.