Forvis Mazars Wealth Advisors LLC Buys 5,426 Shares of International Business Machines Corporation $IBM

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in International Business Machines Corporation (IBM) by 16.5%, holding a total of 38,336 shares valued at approximately $9.53 million.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., also raised their positions in IBM, reflecting growing institutional interest in the company.
• Wall Street analysts have varying opinions on IBM, with a consensus rating of "Moderate Buy" and a target price of $268.75, following recent positive earnings that exceeded expectations.

Forvis Mazars Wealth Advisors LLC boosted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 16.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,336 shares of the technology company's stock after purchasing an additional 5,426 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in International Business Machines were worth $9,533,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealth Dimensions Group Ltd. raised its position 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 purchasing an additional 40 shares in the last quarter. Tacita Capital Inc grew its stake in shares of International Business Machines by 20.8% in the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after purchasing an additional 40 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares in the last quarter. DMC Group LLC lifted its position in shares of International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after buying an additional 42 shares during the period. Finally, Range Financial Group LLC boosted its stake in International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after buying an additional 43 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, BMO Capital Markets lifted their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Trading Up 1.1%

Shares of NYSE IBM traded up $2.64 during mid-day trading on Friday, hitting $239.75. The stock had a trading volume of 4,339,819 shares, compared to its average volume of 6,848,571. The firm has a market cap of $222.82 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $192.86 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The business has a 50 day moving average price of $273.29 and a two-hundred day moving average price of $258.66.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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 firm had revenue of $16.98 billion for 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 company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 earnings per share. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.