D.A. Davidson & CO. Lowers Stake in International Business Machines Corporation $IBM

Key Points

• D.A. Davidson & CO. has reduced its stake in International Business Machines Corporation (IBM) by 2.4% in the second quarter, now holding 197,731 shares valued at approximately $58.29 million.
• Several hedge funds are adjusting their positions in IBM, with notable increases from Brooklyn Investment Group (32.7%) and Left Brain Wealth Management LLC (1,547.8%) during the first quarter.
• IBM reported earnings of $2.80 per share for the last quarter, surpassing analysts' expectations, with a 7.7% increase in year-over-year revenue to $16.98 billion.

D.A. Davidson & CO. cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,731 shares of the technology company's stock after selling 4,901 shares during the period. D.A. Davidson & CO.'s holdings in International Business Machines were worth $58,287,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Brooklyn Investment Group lifted its position in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA lifted its holdings in shares of International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after acquiring an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC boosted its stake in shares of International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC raised its position in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after purchasing an additional 3,276 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $282.07 on Wednesday. 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 $203.51 and a 1 year high of $301.04. The company's 50-day moving average is $262.97 and its 200 day moving average is $262.39. The stock has a market capitalization of $262.16 billion, a P/E ratio of 45.79, a P/E/G ratio of 4.36 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the firm posted $2.43 EPS. The business's revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

IBM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group raised their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a report on Tuesday. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Bank of America lowered their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group raised their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $289.08.

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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