International Business Machines Corporation (NYSE:IBM) Shares Bought by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in International Business Machines Corporation (IBM) by 63.1%, owning a total of 20,077 shares valued at approximately $4.99 million.
• IBM reported a net margin of 9.11% and earnings per share of $2.80, exceeding analyst estimates by $0.15, with revenues of $16.98 billion for the last quarter.
• Analysts have mixed views on IBM stock, with an average rating of "Moderate Buy" and a consensus price target of $268.75, reflecting varying expectations among different financial institutions.

Geneos Wealth Management Inc. lifted its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 63.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,077 shares of the technology company's stock after buying an additional 7,770 shares during the period. Geneos Wealth Management Inc.'s holdings in International Business Machines were worth $4,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines during the 1st quarter valued at approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Mascagni Wealth Management Inc. acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.9%

Shares of IBM traded down $2.24 during mid-day trading on Wednesday, reaching $260.17. The stock had a trading volume of 3,702,970 shares, compared to its average volume of 4,766,250. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The business's fifty day moving average is $277.48 and its 200 day moving average is $256.64. The firm has a market cap of $241.80 billion, a price-to-earnings ratio of 42.24, a P/E/G ratio of 4.05 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the subject of several analyst reports. UBS Group boosted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Bank of America decreased their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

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.