International Business Machines Corporation (NYSE:IBM) Shares Acquired by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC significantly increased its holdings in International Business Machines (IBM), raising its investment by 190.6% in the 1st quarter, now owning 4,934 shares valued at approximately $1.23 million.
• Several institutional investors, including Capital World Investors and GAMMA Investing LLC, also made substantial increases in their positions in IBM, with Capital World Investors boosting its stake by 413.5% and GAMMA Investing increasing theirs by an astonishing 29,564.2%.
• As of the latest analysis, IBM has an average rating of "Moderate Buy" with a notable price target increase from firms like Goldman Sachs, raising its target from $270 to $310.

AlphaCore Capital LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 190.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,934 shares of the technology company's stock after acquiring an additional 3,236 shares during the quarter. AlphaCore Capital LLC's holdings in International Business Machines were worth $1,227,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in IBM. Capital World Investors boosted its position in shares of International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. GAMMA Investing LLC boosted its position in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. Northern Trust Corp raised its stake in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in International Business Machines during the 4th quarter valued at approximately $302,564,000. Finally, Vanguard Group Inc. raised its stake in International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on IBM. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines presently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Performance

NYSE IBM opened at $241.88 on Friday. International Business Machines Corporation has a 1-year low of $189.00 and a 1-year high of $296.16. The company has a market capitalization of $224.80 billion, a P/E ratio of 39.27, a PEG ratio of 3.86 and a beta of 0.69. The business has a 50 day moving average price of $276.14 and a 200 day moving average price of $258.01. 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 (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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the business posted $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal 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.

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