Deutsche Bank AG Has $942.54 Million 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 trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 9.3% in the first quarter, according to the company in its most recent filing 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 approximately 0.41% of International Business Machines worth $942,544,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. Northern Trust Corp increased its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $302,564,000. Finally, Vanguard Group Inc. raised its position in shares of International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group upped their target price 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. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Up 0.7%

IBM stock opened at $252.52 on Thursday. The stock's 50 day moving average is $276.66 and its 200-day moving average is $257.71. International Business Machines Corporation has a twelve month low of $186.70 and a twelve month high of $296.16. The firm has a market capitalization of $234.69 billion, a PE ratio of 40.99, a P/E/G ratio of 3.87 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 earnings per share. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.