Hoxton Planning & Management LLC Takes Position in International Business Machines Corporation (NYSE:IBM)

Key Points

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Hoxton Planning & Management LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,224 shares of the technology company's stock, valued at approximately $1,299,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. RVW Wealth LLC grew its position in shares of International Business Machines by 14.9% in the first quarter. RVW Wealth LLC now owns 1,338 shares of the technology company's stock valued at $333,000 after purchasing an additional 174 shares during the last quarter. Peninsula Asset Management Inc. acquired a new position in shares of International Business Machines in the first quarter valued at approximately $2,782,000. Davis R M Inc. boosted its stake in shares of International Business Machines by 3.0% in the first quarter. Davis R M Inc. now owns 11,544 shares of the technology company's stock valued at $2,871,000 after buying an additional 333 shares during the period. Private Advisory Group LLC boosted its stake in shares of International Business Machines by 24.4% in the first quarter. Private Advisory Group LLC now owns 1,250 shares of the technology company's stock valued at $311,000 after buying an additional 245 shares during the period. Finally, Natixis Advisors LLC boosted its stake in shares of International Business Machines by 26.9% in the first quarter. Natixis Advisors LLC now owns 655,541 shares of the technology company's stock valued at $163,007,000 after buying an additional 139,023 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush boosted their price target 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. Royal Bank Of Canada boosted their price target on 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, JPMorgan Chase & Co. boosted their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Down 1.9%

International Business Machines stock traded down $4.92 during trading hours on Friday, reaching $248.23. 1,431,197 shares of the company's stock were exchanged, compared to its average volume of 4,624,100. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm's 50 day simple moving average is $277.37 and its 200 day simple moving average is $256.88. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The firm has a market capitalization of $230.71 billion, a PE ratio of 40.35, a PEG ratio of 4.02 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the business posted $2.43 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current 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.