Mitsubishi UFJ Asset Management Co. Ltd. Purchases 182,023 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in International Business Machines Corporation (IBM) by 11.3%, acquiring an additional 182,023 shares, bringing its total ownership to approximately 1.79 million shares valued at about $446 million.
• Several other hedge funds significantly increased their holdings in IBM, with Capital World Investors boosting its stake by 413.5% and GAMMA Investing LLC growing its position by an astonishing 29,564.2%.
• IBM reported a quarterly EPS of $2.80, exceeding analysts' expectations, alongside a 7.7% year-over-year revenue increase to $16.98 billion.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,794,724 shares of the technology company's stock after buying an additional 182,023 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of International Business Machines worth $446,276,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Capital World Investors grew its stake in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC grew its position in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Northern Trust Corp grew its position in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in International Business Machines in the 4th quarter valued at $302,564,000. Finally, Vanguard Group Inc. lifted its position in International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after buying an additional 1,298,515 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.7%

Shares of International Business Machines stock opened at $252.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12-month low of $186.70 and a 12-month high of $296.16. The company has a market capitalization of $234.69 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 3.87 and a beta of 0.69. The firm's 50-day moving average price is $276.66 and its two-hundred day moving average price is $257.71.

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 (EPS) for the quarter, beating 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 business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the firm posted $2.43 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

IBM has been the subject of several analyst reports. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Royal Bank Of Canada upped their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Bank of America lowered their target price 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. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

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.

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