International Business Machines Corporation (NYSE:IBM) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its holdings in International Business Machines Corporation (NYSE:IBM) by 24.1% in the first quarter, owning 309,858 shares valued at approximately $77 million.
• International Business Machines reported $2.80 earnings per share for the last quarter, exceeding analysts' expectations of $2.65, with revenues of $16.98 billion also surpassing predictions.
• Equities analysts have recently upgraded the stock's rating, with the average price target now at $268.75, indicating a favorable outlook among many market observers.

J. Safra Sarasin Holding AG reduced its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 24.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,858 shares of the technology company's stock after selling 98,213 shares during the quarter. International Business Machines makes up 1.4% of J. Safra Sarasin Holding AG's investment portfolio, making the stock its 16th largest position. J. Safra Sarasin Holding AG's holdings in International Business Machines were worth $77,049,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines in the 1st quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter valued at about $43,000. Park Square Financial Group LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in International Business Machines during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

NYSE IBM opened at $250.03 on Friday. The firm has a market cap of $232.38 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 3.91 and a beta of 0.69. The company has a fifty day moving average price of $277.20 and a 200-day moving average price of $257.11. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) 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 the consensus estimate 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 for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 earnings per share. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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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