Martingale Asset Management L P Sells 64,482 Shares of International Business Machines Corporation $IBM

Key Points

• Martingale Asset Management L P has significantly reduced its stake in International Business Machines Corporation (IBM) by 56.4%, selling 64,482 shares and holding 49,751 shares valued at approximately $12.37 million.
• Several hedge funds have recently adjusted their positions in IBM, with a majority of the stock (58.96%) owned by institutional investors.
• Analyst ratings for IBM are mixed, with one Strong Buy, eight Buy, nine Hold, and one Sell rating, while the consensus price target stands at $268.75.

Martingale Asset Management L P reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 56.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,751 shares of the technology company's stock after selling 64,482 shares during the quarter. Martingale Asset Management L P's holdings in International Business Machines were worth $12,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Blue Edge Capital LLC raised its holdings in shares of International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock valued at $1,685,000 after purchasing an additional 39 shares during the last quarter. Tacita Capital Inc grew its position in International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC increased its holdings in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares during the last quarter. DMC Group LLC raised 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 worth $875,000 after acquiring an additional 42 shares during the period. Finally, Fidato Wealth LLC boosted its stake in shares of International Business Machines by 2.4% during the 1st quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company's stock worth $454,000 after acquiring an additional 42 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Bank of America reduced 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 report on Thursday, July 24th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Stifel Nicolaus increased their price target on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $268.75.

International Business Machines Price Performance

Shares of IBM stock opened at $242.3790 on Thursday. The firm has a market capitalization of $225.27 billion, a P/E ratio of 39.35, a P/E/G ratio of 3.71 and a beta of 0.69. International Business Machines Corporation has a 52-week low of $194.12 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 stock has a 50 day moving average price of $271.15 and a 200 day moving average price of $258.32.

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 the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share 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.

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