Ethic Inc. Has $32.08 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Ethic Inc. has increased its holdings in International Business Machines Corporation (IBM) by 3.9%, owning a total of 128,158 shares worth approximately $32 million as of the latest SEC filing.
• Shares of IBM have dropped 1.1%, with the stock currently trading at $237.31, while the company reported a quarterly EPS of $2.80, exceeding estimates.
• Several analysts have upgraded their ratings and price targets for IBM, with estimates indicating a current average target price of $268.75, reflecting a consensus of "Moderate Buy."

Ethic Inc. lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,158 shares of the technology company's stock after acquiring an additional 4,820 shares during the period. International Business Machines comprises approximately 0.6% of Ethic Inc.'s holdings, making the stock its 16th largest holding. Ethic Inc.'s holdings in International Business Machines were worth $32,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in International Business Machines by 31.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,642 shares of the technology company's stock worth $1,154,000 after buying an additional 1,106 shares during the last quarter. Kimelman & Baird LLC grew its stake in International Business Machines by 0.4% during the 1st quarter. Kimelman & Baird LLC now owns 104,023 shares of the technology company's stock worth $25,866,000 after buying an additional 437 shares during the last quarter. Howard Wealth Management LLC bought a new position in International Business Machines during the 1st quarter worth $201,000. High Falls Advisors Inc bought a new position in International Business Machines during the 1st quarter worth $234,000. Finally, Tacita Capital Inc grew its stake in International Business Machines by 20.8% during the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock worth $58,000 after buying an additional 40 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on IBM. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Royal Bank Of Canada increased their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group raised their price target 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 research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Performance

IBM traded up $2.64 during midday trading on Friday, reaching $239.75. The company's stock had a trading volume of 4,339,819 shares, compared to its average volume of 6,855,263. The stock has a market cap of $222.82 billion, a P/E ratio of 38.92, a PEG ratio of 3.69 and a beta of 0.69. The company has a fifty day simple moving average of $273.29 and a 200 day simple moving average of $258.66. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a twelve month low of $192.86 and a twelve month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 EPS. Research analysts expect 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.