Levin Capital Strategies L.P. Trims Position in International Business Machines Corporation (NYSE:IBM)

Levin Capital Strategies L.P. lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 19.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,124 shares of the technology company's stock after selling 11,837 shares during the quarter. International Business Machines makes up about 1.3% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 29th biggest position. Levin Capital Strategies L.P.'s holdings in International Business Machines were worth $12,215,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the 1st quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines in the 4th quarter valued at $43,000. Park Square Financial Group LLC acquired a new stake in International Business Machines in the 4th quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in International Business Machines in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Stifel Nicolaus increased their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley lowered their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Up 0.8%

NYSE:IBM opened at $251.96 on Tuesday. The company has a market capitalization of $234.17 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The stock has a 50-day simple moving average of $277.06 and a 200 day simple moving average of $257.80. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

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

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