Foster & Motley Inc. Decreases Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Foster & Motley Inc. reduced its holdings in IBM by 3.8% in the first quarter, owning 35,905 shares valued at approximately $8.93 million after selling 1,410 shares.
• Several hedge funds adjusted their positions in IBM, with notable increases from Wealth Dimensions Group Ltd. and Pallas Capital Advisors LLC, indicating a mixed sentiment among institutional investors.
• IBM reported a quarterly EPS of $2.80, surpassing analysts' expectations, with revenue for the quarter reaching $16.98 billion, representing a 7.7% year-over-year increase.

Foster & Motley Inc. decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,905 shares of the technology company's stock after selling 1,410 shares during the period. Foster & Motley Inc.'s holdings in International Business Machines were worth $8,928,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in International Business Machines in the 1st quarter valued at approximately $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines in the 1st quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the fourth quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 1.2%

IBM stock traded down $3.12 during midday trading on Friday, hitting $250.03. The stock had a trading volume of 9,664,181 shares, compared to its average volume of 4,685,853. The firm has a market cap of $232.38 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 4.02 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 company's 50-day moving average price is $277.37 and its 200 day moving average price is $256.88. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month 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, beating analysts' consensus estimates 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 firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IBM shares. UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.