International Business Machines Corporation (NYSE:IBM) Stock Position Trimmed by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 16.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,614 shares of the technology company's stock after selling 6,508 shares during the quarter. International Business Machines comprises 1.9% of Beacon Harbor Wealth Advisors Inc.'s holdings, making the stock its 15th biggest position. Beacon Harbor Wealth Advisors Inc.'s holdings in International Business Machines were worth $8,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBM. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the 1st quarter worth about $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines during the first quarter worth $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter worth $43,000. Park Square Financial Group LLC bought a new position in International Business Machines during the fourth quarter worth $43,000. Finally, Mascagni Wealth Management Inc. bought a new position in International Business Machines during the fourth quarter worth $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.7%

NYSE:IBM opened at $252.52 on Thursday. The firm has a market cap of $234.69 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. The stock has a fifty day moving average price of $276.66 and a 200 day moving average price of $257.71. International Business Machines Corporation has a 12-month low of $186.70 and a 12-month high of $296.16. 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 posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $16.58 billion. During the same period last year, the firm earned $2.43 earnings per share. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IBM shares. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Morgan Stanley dropped their price objective on 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. Royal Bank Of Canada lifted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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