2,420 Shares in International Business Machines Corporation (NYSE:IBM) Bought by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has acquired a new stake in International Business Machines Corporation (IBM), purchasing 2,420 shares valued at approximately $602,000.
• Several institutional investors have increased their positions in IBM, with Brighton Jones LLC raising its stake by 12.4% in the last quarter.
• IBM reported earnings of $2.80 per share, surpassing analysts' expectations and showing a 7.7% year-over-year revenue growth to $16.98 billion.

Koss Olinger Consulting LLC bought a new position in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,420 shares of the technology company's stock, valued at approximately $602,000.

A number of other institutional investors have also recently added to or reduced their stakes in IBM. Capital World Investors lifted its position in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. GAMMA Investing LLC lifted its position in shares of International Business Machines by 29,564.2% during 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 last quarter. Northern Trust Corp lifted its position in shares of International Business Machines by 18.6% during the 4th 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 last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of International Business Machines during the 4th quarter valued at $302,564,000. Finally, Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.4% during the 1st 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 last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Trading Down 0.8%

IBM traded down $1.89 during trading on Tuesday, reaching $234.41. 8,749,624 shares of the company's stock were exchanged, compared to its average volume of 4,772,840. International Business Machines Corporation has a fifty-two week low of $189.21 and a fifty-two week high of $296.16. The firm has a market capitalization of $217.86 billion, a PE ratio of 38.05, a P/E/G ratio of 3.74 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company's fifty day moving average price is $275.58 and its 200-day moving average price is $258.56.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

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.