Comerica Bank Trims Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Comerica Bank has reduced its stake in International Business Machines Corporation (IBM) by 1.9%, now holding 306,661 shares worth approximately $76.25 million.
• Multiple hedge funds have recently increased their positions in IBM, with notable new acquisitions totaling over $128,000 during the first quarter alone.
• Analysts have raised their price targets for IBM, with estimates now reaching as high as $315.00 from various firms, indicating a generally optimistic outlook.

Comerica Bank decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 306,661 shares of the technology company's stock after selling 6,063 shares during the quarter. Comerica Bank's holdings in International Business Machines were worth $76,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IBM. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the 1st quarter valued at $28,000. Dagco Inc. acquired a new position in International Business Machines in the 1st quarter valued at $31,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the 4th quarter worth $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the fourth quarter worth $43,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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 research note on Friday, July 18th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. UBS Group lifted their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada upped their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $268.75.

International Business Machines Price Performance

Shares of NYSE IBM opened at $241.6890 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 1-year low of $194.39 and a 1-year high of $296.16. The company has a market capitalization of $224.63 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 3.73 and a beta of 0.69. The business has a 50-day moving average of $269.61 and a 200-day moving average of $257.98.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the company posted $2.43 EPS. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts anticipate 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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