Maridea Wealth Management LLC Raises Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Maridea Wealth Management LLC significantly increased its stakes in International Business Machines Corporation by 130.0% during the first quarter, bringing its total holdings to 2,307 shares worth approximately $574,000.
• Several research analysts have upgraded their ratings on IBM, with Wall Street Zen changing its rating from "hold" to "buy" and target prices being increased by firms such as Wedbush and Royal Bank of Canada.
• IBM reported a quarterly earnings per share of $2.80, exceeding analysts' expectations, alongside a year-over-year revenue growth of 7.7% in its latest financial results.

Maridea Wealth Management LLC grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 130.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,307 shares of the technology company's stock after purchasing an additional 1,304 shares during the quarter. Maridea Wealth Management LLC's holdings in International Business Machines were worth $574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Wealth Dimensions Group Ltd. increased its holdings in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after buying an additional 42 shares in the last quarter. DMC Group LLC grew its stake in shares of International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after purchasing an additional 42 shares during the period. Titleist Asset Management LLC grew its stake in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the period. Finally, Range Financial Group LLC grew its stake in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 43 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IBM shares. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group boosted their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. BMO Capital Markets boosted their price target 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 restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, The Goldman Sachs Group boosted their price target 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Price Performance

NYSE IBM traded down $4.43 during trading hours on Thursday, reaching $255.83. The company's stock had a trading volume of 2,595,286 shares, compared to its average volume of 4,621,772. The firm's 50-day moving average price is $277.48 and its 200-day moving average price is $256.64. 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 Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The company has a market capitalization of $237.76 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 4.05 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS 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 analysts' expectations of $16.58 billion. During the same period in the previous year, the firm earned $2.43 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict 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.