Deutsche Bank AG Lowers Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Deutsche Bank AG reduced its stake in International Business Machines Corporation (IBM) by 9.3%, owning approximately $942.54 million, after selling 388,834 shares in the first quarter.
• Other hedge funds, including Capital World Investors and GAMMA Investing LLC, have significantly increased their holdings in IBM, with Capital World growing its stake by 413.5%.
• IBM reported $2.80 earnings per share for the latest quarter, exceeding expectations, with revenue of $16.98 billion, a 7.7% year-on-year increase.

Deutsche Bank AG lowered its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,790,494 shares of the technology company's stock after selling 388,834 shares during the quarter. Deutsche Bank AG owned 0.41% of International Business Machines worth $942,544,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines during the first quarter valued at approximately $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $43,000. Finally, Park Place Capital Corp raised its position in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Trading Down 3.3%

Shares of IBM traded down $8.28 during trading hours on Friday, reaching $241.88. 6,821,307 shares of the company traded hands, compared to its average volume of 5,876,410. The firm has a market cap of $224.80 billion, a price-to-earnings ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $189.00 and a 12-month high of $296.16. 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 stock's fifty day moving average price is $276.14 and its 200 day moving average price is $258.25.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results 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 analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 earnings per share. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current 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.