Atlas Capital Advisors Inc. Cuts Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Atlas Capital Advisors Inc. reduced its stake in International Business Machines Corporation (IBM) by 7.3%, owning 15,601 shares worth approximately $3.88 million after selling 1,225 shares.
• Several large institutional investors have also modified their IBM holdings in the first quarter, with Pandora Wealth Inc. and Manhattan West Asset Management LLC acquiring new positions.
• IBM reported earnings of $2.80 per share for the quarter, surpassing analysts' expectations, with a revenue increase of 7.7% year-over-year to $16.98 billion.

Atlas Capital Advisors Inc. lessened its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,601 shares of the technology company's stock after selling 1,225 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in International Business Machines were worth $3,879,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter valued at approximately $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $43,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on IBM. BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of International Business Machines stock traded down $8.28 on Friday, reaching $241.88. 6,821,307 shares of the stock were exchanged, compared to its average volume of 5,876,410. The firm's 50 day moving average is $276.14 and its 200-day moving average is $258.25. The firm has a market cap of $224.80 billion, a PE ratio of 39.27, a P/E/G ratio of 3.74 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a one year low of $189.00 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for 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 revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.43 earnings per share. As a group, analysts anticipate 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.