International Business Machines Corporation (NYSE:IBM) Stock Position Lowered by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC reduced its holdings in International Business Machines Corporation (IBM) by 22.4%, owning 82,196 shares valued at approximately $20.4 million after selling 23,684 shares during the first quarter.
• Recent research reports have given IBM a range of recommendations, with Melius Research and Wall Street Zen upgrading the stock to "strong-buy" and "buy" ratings respectively, while the average price target is $268.75.
• IBM reported a quarterly earnings of $2.80 EPS, exceeding estimates and showing a revenue growth of 7.7% year-over-year, with a total revenue of $16.98 billion for the quarter.

Townsquare Capital LLC decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,196 shares of the technology company's stock after selling 23,684 shares during the quarter. Townsquare Capital LLC's holdings in International Business Machines were worth $20,439,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines during the 1st quarter worth $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines during the fourth quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines in the fourth quarter worth about $43,000. Institutional investors own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. UBS Group boosted their price objective on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $249.91 on Friday. The firm has a market cap of $232.26 billion, a PE ratio of 40.57, a PEG ratio of 3.89 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $187.00 and a 12-month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company's 50 day moving average price is $276.48 and its two-hundred day moving average price is $257.89.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.