International Business Machines Corporation (NYSE:IBM) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC grew its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 80.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,840 shares of the technology company's stock after acquiring an additional 43,709 shares during the period. Kovitz Investment Group Partners LLC's holdings in International Business Machines were worth $24,329,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IBM. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the 1st quarter valued at $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines in the 1st quarter valued at $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines in the 1st quarter valued at $31,000. Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday. UBS Group increased their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. BMO Capital Markets increased their price target on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned 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 a consensus target price of $268.75.

International Business Machines Stock Performance

NYSE:IBM opened at $237.31 on Friday. 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 fifty day moving average of $273.87 and a two-hundred day moving average of $258.36. The stock has a market capitalization of $220.56 billion, a PE ratio of 38.52, a P/E/G ratio of 3.70 and a beta of 0.69. International Business Machines Corporation has a fifty-two week low of $192.86 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 earnings per share. As a group, research analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.