143,200 Shares in International Business Machines Corporation (NYSE:IBM) Bought by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC purchased 143,200 shares of International Business Machines Corporation (IBM), valued at approximately $35.6 million, in the first quarter according to its SEC filing.
• Major institutional investors have increased their stakes in IBM, with 58.96% of the company's stock currently owned by such investors and hedge funds.
• IBM's stock had a price target raised to $315 by Royal Bank of Canada, reflecting a positive outlook, while other analysts have provided a mix of ratings including "sell," "hold," and "buy."

Lord Abbett & CO. LLC bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 143,200 shares of the technology company's stock, valued at approximately $35,608,000.

Several other large investors also recently made changes to their positions in IBM. Holderness Investments Co. lifted its position in shares of International Business Machines by 1.0% during the 1st quarter. Holderness Investments Co. now owns 29,763 shares of the technology company's stock worth $7,401,000 after buying an additional 306 shares in the last quarter. William B. Walkup & Associates Inc. lifted its position in shares of International Business Machines by 4.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 4,407 shares of the technology company's stock worth $1,096,000 after buying an additional 207 shares in the last quarter. GQG Partners LLC bought a new position in shares of International Business Machines during the 1st quarter worth approximately $1,040,057,000. E Fund Management Co. Ltd. lifted its position in shares of International Business Machines by 8.4% during the 1st quarter. E Fund Management Co. Ltd. now owns 29,139 shares of the technology company's stock worth $7,246,000 after buying an additional 2,269 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of International Business Machines by 448.0% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,096 shares of the technology company's stock worth $272,000 after buying an additional 896 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Royal Bank Of Canada lifted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. UBS Group lifted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.64 during trading hours on Friday, reaching $239.75. The company's stock had a trading volume of 4,339,819 shares, compared to its average volume of 6,855,263. The firm has a 50 day moving average price of $273.29 and a 200-day moving average price of $258.46. International Business Machines Corporation has a one year low of $192.86 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market cap of $222.82 billion, a P/E ratio of 38.92, a P/E/G ratio of 3.65 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the firm earned $2.43 EPS. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Company 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.