Kayne Anderson Rudnick Investment Management LLC Has $26.67 Million Position in International Business Machines Corporation $IBM

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in International Business Machines Corporation (IBM) by 12% during Q1, holding shares worth approximately $26.67 million after selling 14,560 shares.
• IBM's recent quarterly earnings exceeded estimates, reporting $2.80 EPS against a consensus of $2.65, with a revenue increase of 7.7% compared to the prior year.
• Institutional investors now own 58.96% of IBM's stock, with notable recent increases in holdings from firms such as Vanguard and Goldman Sachs.

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,249 shares of the technology company's stock after selling 14,560 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in International Business Machines were worth $26,669,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares during the period. Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after acquiring an additional 1,704,209 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock valued at $1,783,281,000 after acquiring an additional 722,582 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of International Business Machines by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company's stock valued at $1,371,812,000 after acquiring an additional 52,317 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock valued at $1,282,550,000 after acquiring an additional 889,008 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Up 1.0%

Shares of International Business Machines stock opened at $241.6890 on Monday. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year high of $296.16. The business has a 50-day moving average of $269.61 and a two-hundred day moving average of $258.01. The company has a market capitalization of $224.63 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. 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 announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping 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 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 for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IBM shares. Bank of America cut their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. BMO Capital Markets increased their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Royal Bank Of Canada increased their target price 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. Finally, Wall Street Zen raised 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 Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" 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.

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