Gitterman Wealth Management LLC Decreases Holdings in International Business Machines Corporation $IBM

Key Points

• Gitterman Wealth Management LLC has significantly reduced its holdings in International Business Machines Corporation by 49.3%, now owning 4,441 shares valued at approximately $1,105,000.
• IBM surpassed earnings expectations, reporting $2.80 earnings per share for the quarter, exceeding the consensus estimate of $2.65.
• Institutional investors hold 58.96% of IBM's stock, indicating a solid interest from major financial entities despite changes in individual fund positions.

Gitterman Wealth Management LLC reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 49.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,441 shares of the technology company's stock after selling 4,313 shares during the quarter. International Business Machines accounts for approximately 0.3% of Gitterman Wealth Management LLC's portfolio, making the stock its 19th largest holding. Gitterman Wealth Management LLC's holdings in International Business Machines were worth $1,105,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc purchased a new position in International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines in the first quarter worth $28,000. Dagco Inc. purchased a new position in shares of International Business Machines during the 1st quarter valued at $31,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the 4th quarter valued at $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines during the 4th quarter worth $43,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM opened at $239.2070 on Friday. The company's 50 day simple moving average is $270.32 and its two-hundred day simple moving average is $258.17. 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 1 year low of $194.39 and a 1 year high of $296.16. The stock has a market capitalization of $222.32 billion, a PE ratio of 38.83, a P/E/G ratio of 3.73 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share 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 analysts' expectations of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Bank of America lowered their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.

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