Commerce Bank Cuts Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Commerce Bank reduced its stake in International Business Machines Corporation (IBM) by 2.2%, leaving it with 153,602 shares valued at approximately $38.2 million.
• Multiple analysts have provided a range of ratings for IBM, with targets including a price increase forecast from Royal Bank of Canada, now set at $315.00, and Goldman Sachs raising its target to $310.00.
• IBM reported earnings per share of $2.80 for the last quarter, surpassing estimates and marking a 7.7% revenue increase from the previous year.

Commerce Bank trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,602 shares of the technology company's stock after selling 3,435 shares during the period. Commerce Bank's holdings in International Business Machines were worth $38,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the 1st quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines in the 1st quarter valued at about $28,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on IBM shares. Morgan Stanley reduced their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. JPMorgan Chase & Co. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Trading Down 1.2%

Shares of International Business Machines stock traded down $3.12 during trading hours on Friday, reaching $250.03. 9,664,181 shares of the company's stock were exchanged, compared to its average volume of 5,033,579. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The firm has a market capitalization of $232.38 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.69. The company has a fifty day moving average of $277.20 and a 200-day moving average of $257.11. The company has a current ratio of 0.91, a quick ratio of 0.87 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 analysts' consensus estimates 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 company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the prior year, the company posted $2.43 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side 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.