Mesirow Financial Investment Management Inc. Decreases Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Mesirow Financial Investment Management Inc. reduced its stake in International Business Machines Corporation (IBM) by 50.9% during the first quarter, holding 22,319 shares valued at approximately $5.55 million.
• IBM reported quarterly earnings of $2.80 per share, exceeding analysts’ expectations of $2.65, with revenue of $16.98 billion, a 7.7% increase year-over-year.
• Analyst ratings for IBM vary, with an average rating of "Moderate Buy", and price targets set between $233.00 and $310.00 by different financial institutions.

Mesirow Financial Investment Management Inc. cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 50.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,319 shares of the technology company's stock after selling 23,133 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in International Business Machines were worth $5,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines in the 1st quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the 1st quarter valued at about $45,000. Park Square Financial Group LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $43,000. Park Place Capital Corp boosted its stake in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after purchasing an additional 58 shares during the last quarter. Finally, Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the 4th quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IBM shares. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Wedbush lifted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. UBS Group lifted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Bank of America reduced 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 research note on Thursday, July 24th. Finally, Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of IBM traded down $2.24 during trading hours on Wednesday, reaching $260.17. 3,702,970 shares of the company's stock traded hands, compared to its average volume of 4,766,250. The stock has a market cap of $241.80 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 4.05 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm's 50 day simple moving average is $277.48 and its 200-day simple moving average is $256.64. International Business Machines Corporation has a 12 month low of $181.81 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.43 EPS. Equities analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines 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.