International Business Machines Corporation (NYSE:IBM) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,464 shares of the technology company's stock after purchasing an additional 3,003 shares during the quarter. Citizens Financial Group Inc. RI's holdings in International Business Machines were worth $4,591,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. FIL Ltd boosted its holdings in International Business Machines by 7.8% in the fourth quarter. FIL Ltd now owns 2,493 shares of the technology company's stock valued at $548,000 after purchasing an additional 180 shares in the last quarter. F M Investments LLC increased its stake in International Business Machines by 7.8% in the fourth quarter. F M Investments LLC now owns 66,784 shares of the technology company's stock valued at $14,681,000 after purchasing an additional 4,846 shares during the last quarter. Colonial Trust Advisors raised its holdings in International Business Machines by 21.6% during the fourth quarter. Colonial Trust Advisors now owns 1,035 shares of the technology company's stock worth $228,000 after purchasing an additional 184 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of International Business Machines by 7.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 7,449 shares of the technology company's stock worth $1,638,000 after buying an additional 510 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $252.52 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a market cap of $234.69 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. The firm's fifty day moving average price is $276.66 and its 200 day moving average price is $257.71. International Business Machines Corporation has a 1-year low of $186.70 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter last year, the business earned $2.43 EPS. The business's revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on IBM. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Morgan Stanley dropped their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group lifted their price target 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and an average target price 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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