International Business Machines Corporation (NYSE:IBM) Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in International Business Machines Corporation (IBM) by 20.8% during the first quarter, acquiring an additional 889,008 shares for a total holding of over $1.28 billion.
• Several analysts have revised their price targets for IBM, with Royal Bank of Canada raising it from $285 to $315, while others maintain a generally positive outlook, giving it a consensus rating of "Moderate Buy".
• IBM's latest quarterly results showed an earnings per share (EPS) of $2.80, exceeding expectations, alongside a revenue increase of 7.7% year-over-year, reaching approximately $16.98 billion.

Goldman Sachs Group Inc. raised its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,157,846 shares of the technology company's stock after purchasing an additional 889,008 shares during the period. Goldman Sachs Group Inc. owned 0.55% of International Business Machines worth $1,282,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of IBM. Wealth Dimensions Group Ltd. raised its stake in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after purchasing an additional 42 shares during the period. DMC Group LLC increased its holdings in International Business Machines by 1.2% in 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. Titleist Asset Management LLC raised its position in International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after buying an additional 43 shares during the last quarter. Finally, Range Financial Group LLC lifted its stake in International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after acquiring an additional 43 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBM. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Trading Down 0.9%

NYSE IBM traded down $2.37 during trading hours on Thursday, hitting $249.91. 6,248,903 shares of the company's stock were exchanged, compared to its average volume of 5,738,299. 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 firm has a market capitalization of $232.26 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 3.89 and a beta of 0.69. The business's 50 day moving average is $276.48 and its 200-day moving average is $257.89. International Business Machines Corporation has a 12-month low of $187.00 and a 12-month high of $296.16.

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 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 company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the company earned $2.43 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Company 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.