Maxi Investments CY Ltd Takes Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Maxi Investments CY Ltd acquired 4,000 shares of International Business Machines Corporation (IBM), valued at approximately $995,000, as reported in their recent SEC filing.
• IBM reported Q2 earnings of $2.80 EPS, beating analysts' expectations of $2.65, with a revenue increase of 7.7% year-over-year to $16.98 billion.
• Research analysts have given IBM an average rating of "Moderate Buy" with a consensus target price of $268.75, indicating a positive outlook for the stock.

Maxi Investments CY Ltd acquired a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the technology company's stock, valued at approximately $995,000.

A number of other institutional investors have also modified their holdings of IBM. Christopher J. Hasenberg Inc acquired a new position in International Business Machines during the first quarter worth approximately $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines in the first quarter worth $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Up 0.8%

IBM stock opened at $251.96 on Tuesday. International Business Machines Corporation has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company has a market cap of $234.17 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 3.86 and a beta of 0.69. The company has a 50 day moving average of $277.06 and a two-hundred day moving average of $257.80.

International Business Machines (NYSE:IBM - Get Free Report) last released its 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. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America dropped their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Royal Bank Of Canada raised their target price on shares of 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, Wedbush raised their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

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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