LSV Asset Management Sells 540,634 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• LSV Asset Management reduced its holdings in International Business Machines Corporation (IBM) by 43.9%, selling 540,634 shares and holding a total of 689,950 shares valued at approximately $171.56 million.
• IBM reported $2.80 earnings per share for its most recent quarter, exceeding analyst expectations of $2.65, with revenue up 7.7% year-over-year.
• Institutional investors collectively own 58.96% of IBM's shares, reflecting a diverse interest from several hedge funds and asset managers in the company's stock.

LSV Asset Management lessened its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 43.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 689,950 shares of the technology company's stock after selling 540,634 shares during the period. LSV Asset Management owned about 0.07% of International Business Machines worth $171,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Dimensions Group Ltd. grew its position in International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after acquiring an additional 40 shares during the last quarter. Pallas Capital Advisors LLC grew its position in International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after acquiring an additional 42 shares during the last quarter. DMC Group LLC grew its position in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after acquiring an additional 42 shares during the last quarter. Titleist Asset Management LLC grew its position in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares during the last quarter. Finally, Range Financial Group LLC grew its position in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM opened at $250.03 on Friday. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The business's 50 day moving average price is $277.20 and its two-hundred day moving average price is $257.11. The firm has a market cap of $232.38 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the firm earned $2.43 earnings per share. The company's revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IBM shares. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Morgan Stanley reduced their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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