HighTower Advisors LLC Cuts Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• HighTower Advisors LLC decreased its stake in IBM by 14.4%, selling 226,631 shares and now holds around 1.35 million shares worth approximately $336 million.
• Analysts have mixed views on IBM, with price targets ranging from $200 to $310 and an average rating of "Moderate Buy".
• IBM's recent earnings report showed an EPS of $2.80, surpassing estimates, with a year-over-year revenue increase of 7.7%.

HighTower Advisors LLC decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,351,933 shares of the technology company's stock after selling 226,631 shares during the quarter. HighTower Advisors LLC owned about 0.15% of International Business Machines worth $336,172,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines during the first quarter valued at $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines during the first quarter valued at $28,000. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines during the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new stake in International Business Machines during the fourth quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in International Business Machines during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 0.8%

NYSE IBM traded down $1.89 during trading on Tuesday, reaching $234.41. 8,749,624 shares of the company's stock traded hands, compared to its average volume of 6,354,524. 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 firm has a market cap of $217.86 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 3.65 and a beta of 0.69. The company's 50 day simple moving average is $274.96 and its two-hundred day simple moving average is $258.39. International Business Machines Corporation has a 12-month low of $189.21 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 EPS. As a group, sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 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 on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada increased their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, UBS Group increased 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. 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 given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.