Westwood Holdings Group Inc. Has $22.56 Million Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Westwood Holdings Group Inc. reduced its stake in International Business Machines Corporation (IBM) by 3.5%, now holding 90,724 shares valued at approximately $22.56 million.
• Recent analysts' reports indicate a mixed outlook for IBM, with target prices ranging from $242.00 to $320.00 and a consensus rating of "Moderate Buy."
• IBM's latest quarterly earnings report showed an EPS of $2.80, exceeding estimates, and a revenue increase of 7.7% year-over-year to $16.98 billion.

Westwood Holdings Group Inc. lowered its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,724 shares of the technology company's stock after selling 3,292 shares during the period. Westwood Holdings Group Inc.'s holdings in International Business Machines were worth $22,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. MinichMacGregor Wealth Management LLC acquired a new stake in shares of International Business Machines during the 1st quarter valued at $396,000. Treasurer of the State of North Carolina raised its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC boosted its position in International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in 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 valued at $1,867,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in International Business Machines by 5.6% in the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after purchasing an additional 3,276 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IBM shares. UBS Group lifted their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. The Goldman Sachs Group lifted 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 note on Wednesday, July 2nd. Morgan Stanley dropped their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $1.85 during trading on Wednesday, reaching $252.52. The company's stock had a trading volume of 3,684,613 shares, compared to its average volume of 5,702,260. International Business Machines Corporation has a one year low of $186.70 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market cap of $234.69 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. The business's fifty day moving average price is $276.81 and its 200-day moving average price is $257.75.

International Business Machines (NYSE:IBM - Get Free Report) last issued 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. 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 the consensus estimate of $16.58 billion. During the same period in the previous year, the business posted $2.43 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current 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.