Commonwealth Equity Services LLC Sells 1,701 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Commonwealth Equity Services LLC reduced its holdings in International Business Machines Corporation (IBM) by selling 1,701 shares during the first quarter, now owning approximately 0.08% of the company valued at $176.59 million.
• Several analysts have adjusted their price targets for IBM, with JPMorgan Chase raising their target from $244 to $290, while Royal Bank of Canada increased theirs from $285 to $315, reflecting a positive outlook.
• IBM reported quarterly earnings of $2.80 EPS, surpassing expectations and indicating a 7.7% increase in revenue year-over-year.

Commonwealth Equity Services LLC trimmed its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 710,166 shares of the technology company's stock after selling 1,701 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.08% of International Business Machines worth $176,590,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price objective 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. Finally, UBS Group boosted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Price Performance

Shares of IBM opened at $250.03 on Friday. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The firm has a fifty day simple moving average of $277.20 and a two-hundred day simple moving average of $257.36. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a market cap of $232.38 billion, a PE ratio of 40.59, a P/E/G ratio of 3.86 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.43 EPS. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

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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