Meeder Advisory Services Inc. Boosts Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Meeder Advisory Services Inc. increased its holdings in IBM by 13.7%, owning 19,909 shares valued at approximately $4.95 million after acquiring an additional 2,395 shares.
• Several institutional investors, including Geode Capital Management and Capital World Investors, have significantly boosted their stakes in IBM, indicating growing confidence in the company's stock.
• IBM's recent earnings report exceeded expectations, with a quarterly revenue of $16.98 billion and an EPS of $2.80, surpassing estimates by $0.15.

Meeder Advisory Services Inc. raised its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,909 shares of the technology company's stock after buying an additional 2,395 shares during the quarter. Meeder Advisory Services Inc.'s holdings in International Business Machines were worth $4,951,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Capital World Investors boosted its holdings in International Business Machines by 413.5% during 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 acquiring an additional 9,650,534 shares during the period. GAMMA Investing LLC boosted its holdings in International Business Machines by 29,564.2% during 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 acquiring an additional 4,384,958 shares during the period. Northern Trust Corp boosted its holdings 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 period. Castlekeep Investment Advisors LLC purchased a new position in International Business Machines during the 4th quarter valued at about $302,564,000. Finally, First Trust Advisors LP boosted its holdings in International Business Machines by 26.4% during the 4th quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock valued at $884,593,000 after acquiring an additional 840,064 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of research analyst reports. UBS Group raised their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada increased their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Performance

IBM traded down $4.53 during trading on Friday, hitting $248.62. 6,229,278 shares of the stock were exchanged, compared to its average volume of 4,661,478. The firm has a market capitalization of $231.07 billion, a P/E ratio of 40.36, a PEG ratio of 4.02 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The stock has a fifty day moving average price of $277.37 and a two-hundred day moving average price of $256.88. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly 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. The company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current 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.