First National Trust Co Cuts Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• First National Trust Co has reduced its stake in International Business Machines (IBM) by 6.7%, selling 3,766 shares to hold a total of 52,305 shares worth approximately $13 million.
• A variety of institutional investors have engaged in buying new stakes in IBM, with institutional ownership now at 58.96% of the company's stock.
• IBM reported $2.80 EPS for the last quarter, exceeding the expected $2.65 EPS, with a year-over-year revenue increase of 7.7%.

First National Trust Co lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,305 shares of the technology company's stock after selling 3,766 shares during the quarter. First National Trust Co's holdings in International Business Machines were worth $13,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Dimensions Group Ltd. boosted its holdings in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares in the last quarter. DMC Group LLC boosted its holdings in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after acquiring an additional 42 shares in the last quarter. Titleist Asset Management LLC boosted its holdings in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares in the last quarter. Finally, Range Financial Group LLC boosted its holdings in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM traded down $2.24 during midday trading on Wednesday, reaching $260.17. The company had a trading volume of 3,702,970 shares, compared to its average volume of 4,766,250. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average of $277.48 and a two-hundred day moving average of $256.64. The company has a market cap of $241.80 billion, a P/E ratio of 42.24, a P/E/G ratio of 4.05 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.43 earnings per share. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the topic of several analyst reports. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

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.