International Business Machines Corporation (NYSE:IBM) Shares Purchased by EagleClaw Capital Managment LLC

Key Points

• EagleClaw Capital Management LLC has increased its stake in International Business Machines Corporation (IBM) by 9.0% during the first quarter, now owning 19,287 shares valued at approximately $4.8 million.
• Several institutional investors have significantly raised their holdings in IBM, notably GAMMA Investing LLC with a 29,564.2% increase and now holds shares worth around $10.94 billion.
• IBM's recent earnings report showed $2.80 earnings per share, surpassing estimates and indicating a 7.7% year-over-year revenue growth, totaling $16.98 billion for the quarter.

EagleClaw Capital Managment LLC lifted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,287 shares of the technology company's stock after purchasing an additional 1,590 shares during the period. EagleClaw Capital Managment LLC's holdings in International Business Machines were worth $4,796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares in the last quarter. Wellington Management Group LLP raised its stake in International Business Machines by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 231,021 shares of the technology company's stock valued at $50,785,000 after buying an additional 3,206 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in International Business Machines by 173.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 260,784 shares of the technology company's stock valued at $57,328,000 after buying an additional 165,255 shares in the last quarter. OneAscent Financial Services LLC raised its stake in International Business Machines by 6.9% in the fourth quarter. OneAscent Financial Services LLC now owns 3,991 shares of the technology company's stock valued at $877,000 after buying an additional 259 shares in the last quarter. Finally, Nottingham Advisors Inc. raised its stake in International Business Machines by 10.9% in the fourth quarter. Nottingham Advisors Inc. now owns 1,474 shares of the technology company's stock valued at $324,000 after buying an additional 145 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. 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 research note on Wednesday, July 2nd. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. raised their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wedbush raised their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Finally, Royal Bank Of Canada raised their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One research 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

IBM stock traded down $3.12 during trading on Friday, hitting $250.03. The company had a trading volume of 9,664,181 shares, compared to its average volume of 5,033,579. The firm has a market cap of $232.38 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $181.81 and a 1-year high of $296.16. The firm has a 50-day moving average price of $277.20 and a 200-day moving average price of $257.11. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 37.62% and a net margin of 9.11%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.43 EPS. On average, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.