Marvin & Palmer Associates Inc. Acquires New Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Marvin & Palmer Associates Inc. has acquired a new stake in International Business Machines Corporation (IBM), purchasing 11,592 shares valued at approximately $2,882,000, which now represents 4.3% of their portfolio.
• Multiple institutional investors, including Left Brain Wealth Management LLC and Alpha Cubed Investments LLC, have also recently increased their stakes in IBM, reflecting growing interest in the company.
• Analysts have updated their price targets for IBM, with Goldman Sachs raising theirs from $270 to $310 and Royal Bank of Canada increasing it from $285 to $315, indicating confidence in the stock's potential.

Marvin & Palmer Associates Inc. acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,592 shares of the technology company's stock, valued at approximately $2,882,000. International Business Machines comprises 4.3% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds also recently bought and sold shares of IBM. MinichMacGregor Wealth Management LLC purchased a new stake in shares of International Business Machines during the first quarter worth about $396,000. Treasurer of the State of North Carolina grew its position in shares of International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after purchasing an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC grew its position in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC grew its position in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. grew its position in shares of International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after purchasing an additional 3,276 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IBM shares. The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. UBS Group increased their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. 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 research note on Thursday, July 17th. Finally, Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of IBM stock opened at $263.19 on Tuesday. 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 firm has a market capitalization of $244.61 billion, a P/E ratio of 42.73, a P/E/G ratio of 4.01 and a beta of 0.69. The stock has a 50 day moving average price of $277.59 and a 200 day moving average price of $256.57.

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, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $2.43 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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