Independent Advisor Alliance Has $17.72 Million Stake in International Business Machines Corporation (NYSE:IBM)

Independent Advisor Alliance increased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 18.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 71,263 shares of the technology company's stock after purchasing an additional 10,997 shares during the period. International Business Machines comprises about 0.6% of Independent Advisor Alliance's investment portfolio, making the stock its 28th biggest holding. Independent Advisor Alliance's holdings in International Business Machines were worth $17,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Wealth Dimensions Group Ltd. raised its holdings 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 period. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC raised 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 acquiring an additional 42 shares during the period. Range Financial Group LLC grew its position in International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the last quarter. Finally, Private Wealth Partners LLC grew its position in International Business Machines by 1.7% in the 1st quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock worth $658,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. UBS Group raised their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada lifted 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 report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Down 3.3%

Shares of NYSE IBM opened at $241.88 on Monday. International Business Machines Corporation has a 1-year low of $189.00 and a 1-year high of $296.16. The company has a market cap of $224.80 billion, a PE ratio of 39.27, a P/E/G ratio of 3.74 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average of $276.14 and a two-hundred day moving average of $258.48.

International Business Machines (NYSE:IBM - Get Free Report) last announced its 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 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 the consensus estimate of $16.58 billion. During the same period in the previous year, the firm posted $2.43 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share 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.

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