Kestra Advisory Services LLC Sells 20,747 Shares of International Business Machines Corporation $IBM

Key Points

• Kestra Advisory Services LLC reduced its stake in International Business Machines Corporation by 10.9%, selling 20,747 shares and holding 170,139 shares worth approximately $42.3 million as of recent SEC filings.
• IBM reported earnings per share of $2.80 for the last quarter, exceeding estimates by $0.15, and showed a revenue increase of 7.7% year-over-year, totaling $16.98 billion.
• Several institutional investors significantly increased their holdings in IBM, with GAMMA Investing LLC growing its position by 29,564.2% during the 1st quarter, now owning nearly 4.4 million shares valued at about $10.9 billion.

Kestra Advisory Services LLC cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,139 shares of the technology company's stock after selling 20,747 shares during the quarter. Kestra Advisory Services LLC's holdings in International Business Machines were worth $42,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares during the period. GQG Partners LLC bought a new position in International Business Machines during the first quarter worth about $1,040,057,000. Nuveen LLC acquired a new position in International Business Machines during the first quarter worth approximately $960,386,000. Northern Trust Corp raised its stake in International Business Machines by 18.6% in 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 buying an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $302,564,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

NYSE IBM opened at $239.2070 on Friday. The firm has a 50-day moving average price of $270.32 and a two-hundred day moving average price of $258.17. International Business Machines Corporation has a 12-month low of $194.39 and a 12-month high of $296.16. The company has a market capitalization of $222.32 billion, a P/E ratio of 38.83, a P/E/G ratio of 3.73 and a beta of 0.69. 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. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the company posted $2.43 earnings per share. The firm'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. Analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBM. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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