Mizuho Markets Americas LLC Has $1.48 Million Stock Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Mizuho Markets Americas LLC has significantly reduced its stake in IBM by 52.2%, selling 6,498 shares, leaving them with 5,954 shares valued at approximately $1.48 million.
• IBM recently reported $2.80 earnings per share in its latest quarter, exceeding estimates, with revenue of $16.98 billion, showcasing a 7.7% year-over-year increase.
• There are varied analyst price targets for IBM, with BMO Capital Markets raising its target to $300, while UBS set a lower target of $200, indicating mixed sentiment on the stock's performance.

Mizuho Markets Americas LLC reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 52.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,954 shares of the technology company's stock after selling 6,498 shares during the period. Mizuho Markets Americas LLC's holdings in International Business Machines were worth $1,481,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC acquired a new stake in shares of International Business Machines during the first quarter worth $396,000. Left Brain Wealth Management LLC lifted its holdings in shares of International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after acquiring an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC boosted its position in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the period. Wedbush Securities Inc. boosted its position in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after buying an additional 3,276 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of International Business Machines in the first quarter worth about $4,608,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

International Business Machines stock traded down $6.12 during trading hours on Monday, hitting $236.15. The company had a trading volume of 9,373,473 shares, compared to its average volume of 6,028,296. International Business Machines Corporation has a one year low of $189.00 and a one year high of $296.16. The firm has a 50-day moving average of $276.14 and a 200 day moving average of $258.48. The firm has a market cap of $219.48 billion, a PE ratio of 38.34, a PEG ratio of 3.74 and a beta of 0.69. 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 (NYSE:IBM - Get Free Report) last announced 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. The company 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 business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $2.43 earnings per share. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Stifel Nicolaus increased their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

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.