International Business Machines Corporation $IBM Shares Purchased by Summit Financial LLC

Key Points

• Summit Financial LLC increased its stake in IBM by 131.8%, owning 54,221 shares valued at approximately $13.48 million as of the latest SEC filing.
• Several analysts upgraded IBM's stock rating, with Melius Research giving a "strong-buy" rating while Goldman Sachs and Royal Bank of Canada raised target prices to $310 and $315, respectively.
• IBM reported a quarterly earnings of $2.80 per share, exceeding estimates and reflecting a 7.7% year-over-year revenue growth of $16.98 billion.

Summit Financial LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 131.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,221 shares of the technology company's stock after purchasing an additional 30,827 shares during the period. Summit Financial LLC's holdings in International Business Machines were worth $13,483,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Dagco Inc. acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $45,000. Finally, Park Square Financial Group LLC purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on IBM shares. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. 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 research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $268.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $242.3790 on Thursday. The firm has a market capitalization of $225.27 billion, a P/E ratio of 39.35, a P/E/G ratio of 3.71 and a beta of 0.69. The company's fifty day moving average price is $271.15 and its two-hundred day moving average price is $258.32. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 12 month low of $194.12 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 analyst estimates 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 in the prior year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

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.

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