GQG Partners LLC Takes Position in International Business Machines Corporation (NYSE:IBM)

GQG Partners LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,182,647 shares of the technology company's stock, valued at approximately $1,040,057,000. International Business Machines comprises approximately 1.7% of GQG Partners LLC's investment portfolio, making the stock its 25th largest position. GQG Partners LLC owned about 0.45% of International Business Machines at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines during the first quarter worth about $28,000. Dagco Inc. purchased a new position in shares of International Business Machines in the first quarter worth about $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines in the first quarter worth about $45,000. Finally, Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBM. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Bank of America reduced 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. Morgan Stanley reduced their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Down 0.8%

Shares of IBM opened at $234.41 on Wednesday. The firm has a market cap of $217.86 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 3.65 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a fifty-two week low of $189.21 and a fifty-two week high of $296.16. The firm has a 50 day moving average price of $274.96 and a 200-day moving average price of $258.39.

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 for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.

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