Credit Agricole S A Sells 45,364 Shares of International Business Machines Corporation $IBM

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Credit Agricole S A reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,453 shares of the technology company's stock after selling 45,364 shares during the period. Credit Agricole S A's holdings in International Business Machines were worth $77,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at approximately $396,000. Brooklyn Investment Group boosted its position in International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA boosted its position in International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC boosted its position in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC boosted its position in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 report on Thursday, July 17th. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. UBS Group lifted their target price 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. Wedbush lifted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Finally, 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 report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $268.75.

International Business Machines Trading Up 1.0%

Shares of NYSE:IBM traded up $2.2890 during mid-day trading on Friday, hitting $241.6890. The company had a trading volume of 3,121,152 shares, compared to its average volume of 4,727,108. The firm has a fifty day moving average price of $270.32 and a 200 day moving average price of $258.17. The company has a market capitalization of $224.63 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. 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 one year low of $194.39 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during 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%. International Business Machines's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 EPS 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.