FCG Investment Co Grows Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• FCG Investment Co increased its stake in International Business Machines Corporation (IBM) by 115.5%, acquiring an additional 2,853 shares for a total of 5,324 shares valued at approximately $1.32 million.
• Institutional investors now own 58.96% of IBM's stock, showing significant interest in the company from hedge funds and other institutions.
• IBM reported earnings per share of $2.80 in its latest quarterly results, exceeding analysts' expectations and showing a 7.7% year-over-year revenue increase.

FCG Investment Co boosted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 115.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,324 shares of the technology company's stock after purchasing an additional 2,853 shares during the period. FCG Investment Co's holdings in International Business Machines were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Canada Pension Plan Investment Board grew its position in International Business Machines by 1,165.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 223,065 shares of the technology company's stock worth $49,036,000 after purchasing an additional 205,434 shares during the last quarter. Capital International Sarl bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $931,000. GeoWealth Management LLC lifted its stake in International Business Machines by 9.1% during the fourth quarter. GeoWealth Management LLC now owns 6,495 shares of the technology company's stock valued at $1,428,000 after purchasing an additional 543 shares during the last quarter. Finally, Forum Financial Management LP lifted its stake in International Business Machines by 22.3% during the fourth quarter. Forum Financial Management LP now owns 8,270 shares of the technology company's stock valued at $1,818,000 after purchasing an additional 1,506 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBM shares. Bank of America dropped their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Up 1.1%

Shares of IBM opened at $239.75 on Friday. International Business Machines Corporation has a 12-month low of $192.86 and a 12-month high of $296.16. The firm has a fifty day moving average price of $273.29 and a 200-day moving average price of $258.66. The firm has a market capitalization of $222.82 billion, a P/E ratio of 38.92, a P/E/G ratio of 3.69 and a beta of 0.69. 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 (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, topping analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 earnings per share. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current 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.

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