Linscomb Wealth Inc. Has $1.97 Million Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Linscomb Wealth Inc. has reduced its stake in International Business Machines Corporation (IBM) by 14.1%, now holding shares worth $1.97 million after selling 1,297 shares in the first quarter.
• IBM reported a strong quarterly performance with an EPS of $2.80, surpassing estimates and reflecting a year-on-year increase in revenue of 7.7%.
• Market analysts have mixed ratings on IBM, with a consensus of "Moderate Buy", reflecting ten buy ratings, eight hold ratings, and one sell rating, with a target price of $268.75.

Linscomb Wealth Inc. lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,921 shares of the technology company's stock after selling 1,297 shares during the quarter. Linscomb Wealth Inc.'s holdings in International Business Machines were worth $1,970,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the first quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth about $43,000. Park Square Financial Group LLC acquired a new stake in shares of International Business Machines during the 4th quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

IBM stock opened at $241.88 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $189.00 and a 12 month high of $296.16. The firm has a market cap of $224.80 billion, a P/E ratio of 39.27, a P/E/G ratio of 3.74 and a beta of 0.69. The company's 50-day moving average price is $276.14 and its two-hundred day moving average price is $258.48.

International Business Machines (NYSE:IBM - Get Free Report) last released 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 net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the firm earned $2.43 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research reports. Bank of America cut their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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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