Longfellow Investment Management Co. LLC Sells 1,191 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Longfellow Investment Management Co. LLC has reduced its stake in IBM by 13.8%, bringing its holdings to 7,462 shares worth approximately $1.86 million.
• In recent analyst reports, Wall Street Zen upgraded IBM from a "hold" to a "buy" rating, while JPMorgan Chase & Co. increased its price target from $244 to $290.
• IBM reported $2.80 EPS for the last quarter, surpassing the consensus estimate of $2.65, with a revenue of $16.98 billion, reflecting a year-over-year increase of 7.7%.

Longfellow Investment Management Co. LLC lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,462 shares of the technology company's stock after selling 1,191 shares during the quarter. International Business Machines makes up 0.5% of Longfellow Investment Management Co. LLC's investment portfolio, making the stock its 28th largest position. Longfellow Investment Management Co. LLC's holdings in International Business Machines were worth $1,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines during the 1st quarter valued at about $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of International Business Machines during the 1st quarter valued at about $45,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. Finally, Park Place Capital Corp raised its holdings in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.8%

Shares of IBM stock traded down $1.89 during trading hours on Tuesday, reaching $234.41. The company's stock had a trading volume of 8,749,624 shares, compared to its average volume of 6,354,524. The stock has a market capitalization of $217.86 billion, a P/E ratio of 38.05, a P/E/G ratio of 3.65 and a beta of 0.69. International Business Machines Corporation has a one year low of $189.21 and a one year high of $296.16. The firm's fifty day simple moving average is $274.96 and its 200 day simple moving average is $258.39. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the company posted $2.43 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. BMO Capital Markets lifted their price target on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Wedbush lifted their price target on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.