E Fund Management Co. Ltd. Acquires 2,269 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• E Fund Management Co. Ltd. increased its holdings in International Business Machines (IBM) by 8.4% in Q1, acquiring an additional 2,269 shares, bringing its total to 29,139 shares valued at approximately $7.25 million.
• Multiple institutional investors have raised their stakes in IBM, with Financial Network Wealth Advisors increasing its stake by 448% during the same period.
• Wall Street analysts are optimistic about IBM's future, with several brokerages raising their price targets and issuing mostly positive ratings, leading to a consensus rating of "Moderate Buy" and an average price target of $268.75.

E Fund Management Co. Ltd. lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,139 shares of the technology company's stock after acquiring an additional 2,269 shares during the quarter. E Fund Management Co. Ltd.'s holdings in International Business Machines were worth $7,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC raised its stake in International Business Machines by 448.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,096 shares of the technology company's stock valued at $272,000 after buying an additional 896 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in International Business Machines by 6.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 28,212 shares of the technology company's stock worth $7,015,000 after purchasing an additional 1,732 shares during the last quarter. Triglav Skladi D.O.O. lifted its holdings in shares of International Business Machines by 4.9% during the 1st quarter. Triglav Skladi D.O.O. now owns 32,000 shares of the technology company's stock valued at $7,957,000 after buying an additional 1,500 shares during the period. S Bank Fund Management Ltd bought a new stake in shares of International Business Machines during the 1st quarter valued at $5,595,000. Finally, National Pension Service increased its stake in International Business Machines by 5.4% in the 1st quarter. National Pension Service now owns 2,243,542 shares of the technology company's stock worth $557,879,000 after buying an additional 114,397 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IBM. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group boosted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Price Performance

NYSE IBM opened at $234.41 on Wednesday. The stock's fifty day moving average price is $274.96 and its 200 day moving average price is $258.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company has a market cap of $217.86 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 3.65 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $189.21 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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 company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. As a group, equities research 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.

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