Circle Wealth Management LLC Invests $693,000 in International Business Machines Corporation $IBM

Key Points

• Circle Wealth Management LLC invested approximately $693,000 in International Business Machines Corporation (IBM) by acquiring 2,788 shares in the first quarter.
• IBM's recent quarterly earnings surpassed analysts' expectations, reporting a net revenue of $16.98 billion and EPS of $2.80, up from $2.43 the previous year.
• Institutional investors and hedge funds own approximately 58.96% of IBM's stock, with several firms adjusting their positions during the first quarter.

Circle Wealth Management LLC bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,788 shares of the technology company's stock, valued at approximately $693,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Edge Capital LLC raised its position in International Business Machines by 0.6% in the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock valued at $1,685,000 after purchasing an additional 39 shares in the last quarter. Tacita Capital Inc grew its position in shares of International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock worth $58,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC increased 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 worth $1,195,000 after buying an additional 42 shares during the period. DMC Group LLC raised its holdings in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after acquiring an additional 42 shares in the last quarter. Finally, Fidato Wealth LLC lifted its stake in International Business Machines by 2.4% in the first quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company's stock worth $454,000 after acquiring an additional 42 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM opened at $239.2070 on Friday. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year 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. The company's fifty day moving average is $270.32 and its two-hundred day moving average is $258.17. The stock has a market capitalization of $222.32 billion, a P/E ratio of 38.83, a P/E/G ratio of 3.73 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $16.98 billion during 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 firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IBM shares. UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $268.75.

International Business Machines 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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