Levin Capital Strategies L.P. Reduces Position in International Business Machines Corporation $IBM

Key Points

• Levin Capital Strategies cut its IBM stake by 23.1% in the first quarter, selling 8,484 shares and leaving it with 28,258 shares worth about $6.85 million.
• IBM’s latest quarterly results were mixed: it matched EPS expectations at $2.93 per share, but revenue came in below estimates at $17.16 billion and guidance was lowered for the full year.
• The stock has come under pressure, with shares down about 2.1% and trading near their 52-week low, while analysts remain split overall with a Moderate Buy consensus.

Levin Capital Strategies L.P. trimmed its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,258 shares of the technology company's stock after selling 8,484 shares during the quarter. Levin Capital Strategies L.P.'s holdings in International Business Machines were worth $6,850,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IBM. Vanguard Group Inc. lifted its holdings in International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock worth $28,796,390,000 after buying an additional 1,439,824 shares during the last quarter. State Street Corp increased its holdings in shares of International Business Machines by 1.0% in the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company's stock valued at $16,290,452,000 after acquiring an additional 518,321 shares during the last quarter. Geode Capital Management LLC raised its position in shares of International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company's stock worth $6,679,105,000 after acquiring an additional 336,069 shares in the last quarter. Capital World Investors raised its position in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after acquiring an additional 4,976,756 shares in the last quarter. Finally, Norges Bank purchased a new stake in International Business Machines during the fourth quarter worth approximately $2,446,429,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM’s earnings matched Wall Street’s EPS estimate, and the company continues to emphasize AI-driven productivity, quantum computing, and strong free-cash-flow generation. IBM (IBM) Matches Q2 Earnings Estimates
• Neutral Sentiment: After the release, IBM shares saw some after-hours recovery as investors focused on long-term AI and quantum initiatives rather than the immediate headline miss. IBM just cut its outlook. Why its stock is bouncing anyway.
• Negative Sentiment: IBM lowered full-year revenue guidance and posted weaker sales than expected, with mainframe revenue notably under pressure, raising concerns about near-term growth. IBM Lowers Its Growth Outlook as Sales of Data Center Mainframes Sink 42%
• Negative Sentiment: Multiple law firms announced securities-fraud investigations following IBM’s sharp stock decline and guidance cut, adding an overhang for investors. IBM Investigated by the Portnoy Law Firm

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a report on Wednesday, June 3rd. Stifel Nicolaus cut their price objective on shares of International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a report on Monday. Wall Street Zen downgraded shares of International Business Machines from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Barclays lowered their target price on shares of International Business Machines from $350.00 to $288.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, KeyCorp downgraded shares of International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $278.68.

International Business Machines Stock Down 2.1%

Shares of NYSE IBM opened at $206.03 on Thursday. The business has a 50-day moving average price of $263.26 and a 200 day moving average price of $261.42. The stock has a market cap of $193.64 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 52-week low of $204.44 and a 52-week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.48 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Corporation will post 12.19 earnings per share for the current year.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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