First National Trust Co Has $13.01 Million Position 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 stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 reporting period.

A number of other large investors have also recently bought and sold shares of IBM. Eastern Bank lifted its stake in shares of International Business Machines by 2.9% during the 1st quarter. Eastern Bank now owns 32,445 shares of the technology company's stock worth $8,068,000 after purchasing an additional 901 shares during the period. Brucke Financial Inc. lifted its stake in shares of International Business Machines by 6.6% during the 1st quarter. Brucke Financial Inc. now owns 1,787 shares of the technology company's stock worth $432,000 after purchasing an additional 110 shares during the period. First Foundation Advisors boosted its position in shares of International Business Machines by 14.8% in the first quarter. First Foundation Advisors now owns 3,377 shares of the technology company's stock worth $840,000 after acquiring an additional 436 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in International Business Machines during the first quarter worth approximately $16,067,000. Finally, Geneos Wealth Management Inc. raised its position in shares of International Business Machines by 63.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 20,077 shares of the technology company's stock worth $4,992,000 after buying an additional 7,770 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Performance

IBM stock traded down $3.12 on Friday, reaching $250.03. The company's stock had a trading volume of 9,664,181 shares, compared to its average volume of 5,033,579. The company has a market capitalization of $232.38 billion, a P/E ratio of 40.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.69. 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 has a fifty day moving average of $277.20 and a two-hundred day moving average of $257.11. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16.

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