Cumberland Partners Ltd Has $1.10 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Cumberland Partners Ltd has reduced its stake in International Business Machines Corporation (IBM) by 34% to $1.1 million, owning 4,410 shares after selling 2,275 shares in the first quarter.
• Several institutional investors significantly increased their holdings in IBM, with Capital World Investors raising its position by 413.5% and GAMMA Investing LLC increasing by 29,564.2%, resulting in IBM having 58.96% of its stock owned by institutional investors.
• IBM's recent earnings report revealed an EPS of $2.80, exceeding estimates, and analysts project an average target price of $268.75 for the stock, reflecting a consensus "Moderate Buy" rating.

Cumberland Partners Ltd decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 34.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,410 shares of the technology company's stock after selling 2,275 shares during the quarter. Cumberland Partners Ltd's holdings in International Business Machines were worth $1,097,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Wealth Dimensions Group Ltd. raised its position in shares of International Business Machines by 1.0% during the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after purchasing an additional 40 shares during the period. Pallas Capital Advisors LLC raised its position 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 purchasing an additional 42 shares during the period. DMC Group LLC raised its position 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. Titleist Asset Management LLC raised its position in International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after buying an additional 43 shares during the period. Finally, Range Financial Group LLC raised its position in International Business Machines by 0.6% during the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM traded down $3.12 during mid-day trading on Friday, hitting $250.03. 9,664,181 shares of the company's stock traded hands, compared to its average volume of 5,517,749. The firm has a 50 day moving average of $277.20 and a two-hundred day moving average of $257.61. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16. The firm has a market capitalization of $232.38 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

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, topping analysts' consensus estimates 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 company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the company earned $2.43 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent analyst reports. 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. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada upped their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. One 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 stock. According to data from MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and an average price target of $268.75.

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.