International Business Machines Corporation $IBM Shares Acquired by Fortis Capital Management LLC

Key Points

• Fortis Capital Management boosted its IBM stake by 72.1% in the first quarter, ending with 6,618 shares valued at about $1.6 million.
• IBM’s latest quarterly results beat expectations, with EPS of $1.91 versus $1.81 estimated and revenue of $15.92 billion, up 9.5% year over year.
• Despite solid earnings, the stock was trading near $210.44, well below its recent average prices, while analysts maintained a Moderate Buy consensus and a target price around $278.68.

Fortis Capital Management LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 72.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,618 shares of the technology company's stock after buying an additional 2,772 shares during the quarter. Fortis Capital Management LLC's holdings in International Business Machines were worth $1,604,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in shares of International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock worth $571,000 after purchasing an additional 186 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of International Business Machines during the second quarter worth approximately $211,000. Ieq Capital LLC lifted its holdings in shares of International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock worth $11,383,000 after purchasing an additional 843 shares during the period. Finally, Vivaldi Capital Management LP lifted its holdings in shares of International Business Machines by 11.6% during the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

International Business Machines stock opened at $210.44 on Wednesday. The company has a market cap of $197.79 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. International Business Machines Corporation has a one year low of $204.44 and a one year high of $332.46. The business has a fifty day moving average of $263.44 and a two-hundred day moving average of $262.05. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 EPS. As a group, analysts predict that International Business Machines Corporation will post 12.21 earnings per share for the current fiscal year.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Potential upside from AI, cloud, cybersecurity, and consulting demand, which some analysts still expect to support future revenue growth.
• Neutral Sentiment: IBM’s expanded quantum-computing collaboration with Singapore’s military, which could be strategically positive but is unlikely to move near-term results by itself. IBM (IBM) Stock Declines Despite Singapore Military Quantum Computing Partnership Expansion
• Neutral Sentiment: Investor attention ahead of the full Q2 earnings report, with traders watching for management’s commentary on pipeline strength, software growth, and dividend durability. IBM to Report Full Q2 Results After its Historic Stock Crash – Here’s What Investors Will Watch
• Negative Sentiment: Legal investigations from shareholder-rights firms following the guidance cut and stock plunge, which can keep sentiment weak and increase headline risk. International Business Machines Corporation (IBM) Securities Investigation Notice - Levi & Korsinsky
• Negative Sentiment: Concerns that IBM’s recent earnings scare may indicate weaker execution and pressure on the company’s dividend and growth story. After Its Earnings Scare, Is IBM's Dividend Still Safe?

Wall Street Analyst Weigh In

Several research firms have recently commented on IBM. Oppenheimer cut shares of International Business Machines from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price target on shares of International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, July 17th. Wedbush set a $350.00 price target on shares of International Business Machines in a report on Tuesday, June 2nd. Jefferies Financial Group reduced their price objective on shares of International Business Machines from $320.00 to $260.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Piper Sandler raised International Business Machines to an "overweight" rating in a report on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $278.68.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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