EverSource Wealth Advisors LLC Purchases 1,106 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• EverSource Wealth Advisors LLC increased its stake in IBM by 31.3%, acquiring 1,106 additional shares, bringing their total holdings to 4,642 shares valued at $1.15 million.
• Institutional investors currently hold 58.96% of IBM's shares, with several major investors significantly increasing their positions in the recent quarters.
• Wall Street analysts have raised their price targets for IBM, with estimates ranging from $242.00 to $315.00, indicating a consensus rating of "Moderate Buy."

EverSource Wealth Advisors LLC increased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 31.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,642 shares of the technology company's stock after purchasing an additional 1,106 shares during the period. EverSource Wealth Advisors LLC's holdings in International Business Machines were worth $1,154,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IBM. Capital World Investors lifted its holdings in shares of International Business Machines by 413.5% in the 4th 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 in the last quarter. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. GQG Partners LLC bought a new position in International Business Machines during the 1st quarter valued at $1,040,057,000. Nuveen LLC bought a new position in International Business Machines during the 1st quarter valued at $960,386,000. Finally, Northern Trust Corp lifted its stake in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IBM shares. BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Stifel Nicolaus raised their price objective 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. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Trading Up 1.1%

Shares of IBM opened at $239.75 on Friday. The business has a 50-day moving average of $273.29 and a 200 day moving average of $258.46. International Business Machines Corporation has a fifty-two week low of $192.86 and a fifty-two week high of $296.16. The firm has a market cap of $222.82 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 3.65 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter last year, the firm posted $2.43 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 EPS 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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