International Business Machines Corporation $IBM Stake Cut by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its holdings in International Business Machines Corporation (IBM) by 4.3%, now owning approximately $139.75 million worth of shares.
• IBM reported stronger than expected quarterly earnings, with $2.80 earnings per share, surpassing analysts' estimates of $2.65.
• Several brokerages have recently revised their price targets for IBM, with BMO Capital Markets raising it from $260 to $300, reflecting confidence in the company's performance.

Korea Investment CORP cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,030 shares of the technology company's stock after selling 25,269 shares during the period. Korea Investment CORP owned 0.06% of International Business Machines worth $139,754,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. GQG Partners LLC bought a new position in shares of International Business Machines in the first quarter worth $1,040,057,000. Nuveen LLC bought a new position in shares of International Business Machines in the first quarter worth $960,386,000. Northern Trust Corp grew its stake in shares of 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 worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of International Business Machines in the fourth quarter worth $302,564,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target 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. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley decreased their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average target price of $268.75.

International Business Machines Trading Down 1.4%

Shares of NYSE IBM traded down $3.3430 during mid-day trading on Thursday, hitting $239.2070. 2,984,766 shares of the company traded hands, compared to its average volume of 4,737,089. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year high of $296.16. The stock has a market capitalization of $222.32 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 3.71 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. The business has a 50 day moving average of $271.15 and a two-hundred day moving average of $258.32.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results 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 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 the consensus estimate of $16.58 billion. During the same period in the prior year, the business posted $2.43 earnings per share. International Business Machines's revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

About International Business Machines

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.