Ethic Inc. Grows Stock Position in International Business Machines Corporation $IBM

Key Points

• Ethic Inc. increased its stake in International Business Machines (IBM) by 2.5% in the 2nd quarter, owning 131,420 shares valued at approximately $38 million.
• Analyst reports show a mix of ratings for IBM, with a consensus "Hold" rating and an average price target of $289.08, including various price targets ranging from $280.00 to $310.00.
• IBM's stock recently opened at $283.09, reflecting a market capitalization of $263.10 billion and a notable increase in revenue by 7.7% year-over-year.

Ethic Inc. grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,420 shares of the technology company's stock after acquiring an additional 3,262 shares during the quarter. International Business Machines comprises about 0.7% of Ethic Inc.'s portfolio, making the stock its 16th largest position. Ethic Inc.'s holdings in International Business Machines were worth $38,072,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Family CFO Inc bought a new position in International Business Machines in the 2nd quarter valued at $25,000. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the first quarter worth about $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines during the 1st quarter worth about $28,000. Dagco Inc. purchased a new position in International Business Machines during the 1st quarter valued at about $31,000. Finally, Silicon Valley Capital Partners boosted its stake in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Sanford C. Bernstein assumed coverage on International Business Machines in a research note on Monday, September 15th. They issued a "market perform" rating and a $280.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a report on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. Stifel Nicolaus increased their price target 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. Finally, Bank of America dropped their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $289.08.

International Business Machines Stock Up 0.4%

IBM stock opened at $283.09 on Wednesday. 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 firm's fifty day simple moving average is $262.97 and its 200-day simple moving average is $262.39. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The company has a market capitalization of $263.10 billion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 4.36 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during 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 business posted $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.

International Business Machines Company 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.

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