Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 33,728 Shares of International Business Machines Corporation (NYSE:IBM)

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 317.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,352 shares of the technology company's stock after acquiring an additional 33,728 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in International Business Machines were worth $11,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines in the 1st quarter valued at $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of International Business Machines in the 1st quarter valued at $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines during the fourth quarter worth $43,000. Finally, Park Place Capital Corp lifted its stake 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 acquiring an additional 58 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Bank of America lowered their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Finally, Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to 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 Down 1.9%

Shares of NYSE:IBM traded down $4.92 during trading on Friday, hitting $248.23. 1,431,197 shares of the company's stock traded hands, compared to its average volume of 4,624,100. 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 company has a 50-day moving average price of $277.37 and a 200-day moving average price of $256.88. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The company has a market cap of $230.71 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $2.43 EPS. As a group, research analysts forecast 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.