International Business Machines Corporation $IBM Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in IBM by 0.6%, now owning approximately 10.78 million shares valued at $2.68 billion, following a sale of 66,467 shares in the first quarter.
• IBM reported a quarterly EPS of $2.80, exceeding estimates, and a revenue of $16.98 billion, representing a year-over-year growth of 7.7%.
• Wall Street analysts have diverse ratings for IBM, with one sell rating, nine holds, nine buys, and one strong buy, indicating a general consensus rating of "Moderate Buy".

Northern Trust Corp trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,779,526 shares of the technology company's stock after selling 66,467 shares during the quarter. Northern Trust Corp owned 1.16% of International Business Machines worth $2,680,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group grew its stake 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 purchasing an additional 1,630 shares in the last quarter. TriaGen Wealth Management LLC grew its stake in International Business Machines by 4.8% during the 1st quarter. TriaGen Wealth Management LLC now owns 2,746 shares of the technology company's stock worth $683,000 after purchasing an additional 127 shares in the last quarter. Blue Edge Capital LLC grew its stake in International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock worth $1,685,000 after purchasing an additional 39 shares in the last quarter. FCG Investment Co grew its stake in International Business Machines by 115.5% during the 1st quarter. FCG Investment Co now owns 5,324 shares of the technology company's stock worth $1,324,000 after purchasing an additional 2,853 shares in the last quarter. Finally, Spreng Capital Management Inc. acquired a new position in International Business Machines during the 1st quarter worth $203,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.1%

International Business Machines stock opened at $239.75 on Monday. International Business Machines Corporation has a fifty-two week low of $192.86 and a fifty-two week high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $222.82 billion, a P/E ratio of 38.92, a PEG ratio of 3.69 and a beta of 0.69. The stock has a 50-day simple moving average of $273.29 and a 200-day simple moving average of $258.66.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business 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 business earned $2.43 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IBM. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wedbush upped their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

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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