LeConte Wealth Management LLC Purchases New Stake in International Business Machines Corporation $IBM

Key Points

• LeConte Wealth Management LLC invested $291,000 in IBM, acquiring 1,172 shares in the technology company.
• IBM's recent earnings report showed $2.80 earnings per share, surpassing the consensus estimate of $2.65, with revenue increasing 7.7% year-over-year.
• Goldman Sachs raised its target price for IBM from $270 to $310, maintaining a "buy" rating amid favorable analyst outlooks.

LeConte Wealth Management LLC bought a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,172 shares of the technology company's stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Northwest & Ethical Investments L.P. acquired a new stake in International Business Machines during the 1st quarter worth about $451,000. Steward Partners Investment Advisory LLC lifted its position in International Business Machines by 14.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 145,171 shares of the technology company's stock worth $36,098,000 after acquiring an additional 18,437 shares during the period. Raymond James Financial Inc. lifted its position in International Business Machines by 10.8% during the 1st quarter. Raymond James Financial Inc. now owns 2,987,788 shares of the technology company's stock worth $742,943,000 after acquiring an additional 291,399 shares during the period. Oder Investment Management LLC lifted its position in International Business Machines by 9.2% during the 1st quarter. Oder Investment Management LLC now owns 4,205 shares of the technology company's stock worth $1,046,000 after acquiring an additional 356 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC lifted its position in International Business Machines by 16.5% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 38,336 shares of the technology company's stock worth $9,533,000 after acquiring an additional 5,426 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM traded up $1.2050 during trading hours on Wednesday, hitting $242.4850. 2,155,069 shares of the stock were exchanged, compared to its average volume of 4,740,337. International Business Machines Corporation has a 52-week low of $194.12 and a 52-week high of $296.16. The firm's fifty day moving average price is $271.93 and its 200 day moving average price is $258.43. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market cap of $225.37 billion, a P/E ratio of 39.41, a P/E/G ratio of 3.69 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 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 analyst estimates of $16.58 billion. During the same period in the previous year, the business earned $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IBM shares. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Wedbush boosted their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average 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.