ING Groep NV Sells 266,000 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• ING Groep NV significantly reduced its stake in IBM by 95.7%, selling 266,000 shares and bringing its holdings down to 11,952 shares valued at approximately $2.97 million.
• Institutional investors are making notable changes, with Capital World Investors boosting its holdings in IBM by 413.5%, acquiring approximately 9.65 million shares during the last quarter.
• IBM recently reported an earnings per share of $2.80 for the quarter, exceeding estimates, with revenue reaching $16.98 billion, a 7.7% year-over-year increase.

ING Groep NV cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 95.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,952 shares of the technology company's stock after selling 266,000 shares during the quarter. ING Groep NV's holdings in International Business Machines were worth $2,972,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Northern Trust Corp raised its holdings in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of International Business Machines by 9.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after buying an additional 722,582 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,083,665 shares of the technology company's stock valued at $1,117,548,000 after buying an additional 99,510 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IBM. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group lifted their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 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 report on Wednesday, July 16th. The Goldman Sachs Group lifted their target price 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, Wedbush upped 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Price Performance

Shares of IBM opened at $250.68 on Wednesday. The stock has a market capitalization of $232.98 billion, a P/E ratio of 40.69, a P/E/G ratio of 3.89 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $183.64 and a twelve month high of $296.16. The company has a 50 day moving average of $276.81 and a 200-day moving average of $257.75. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

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 the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations 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 last year, the business earned $2.43 EPS. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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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