Invesco Ltd. Cuts Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Invesco Ltd. has reduced its stake in International Business Machines Corporation (IBM) by 12.3%, holding approximately 3.54 million shares worth about $879.95 million after selling 498,094 shares during the first quarter.
• Several hedge funds have adjusted their positions in IBM, with Left Brain Wealth Management significantly increasing its stake by 1,547.8% to own 17,664 shares valued at $4.39 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for IBM, with a mix of ratings including 9 buy and 1 strong buy, while the target price averages at $268.75.

Invesco Ltd. lessened its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,538,766 shares of the technology company's stock after selling 498,094 shares during the period. Invesco Ltd. owned 0.38% of International Business Machines worth $879,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. MinichMacGregor Wealth Management LLC purchased a new stake in International Business Machines during the first quarter worth about $396,000. Left Brain Wealth Management LLC increased its stake 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 worth $4,392,000 after purchasing an additional 16,592 shares during the period. Alpha Cubed Investments LLC increased its stake in International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. Wedbush Securities Inc. increased its stake in International Business Machines by 5.6% during the first 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 period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in International Business Machines during the first quarter worth about $4,608,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of IBM stock traded down $1.89 during trading hours on Tuesday, hitting $234.41. The stock had a trading volume of 8,749,624 shares, compared to its average volume of 4,772,840. The firm has a market capitalization of $217.86 billion, a PE ratio of 38.05, a PEG ratio of 3.74 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $189.21 and a twelve month high of $296.16. The stock's 50 day moving average is $275.58 and its 200 day moving average is $258.56. 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 posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating 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 business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the company earned $2.43 earnings per share. The company's revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IBM has been the topic of a number of recent research reports. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley cut their target price 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. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $268.75.

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.