International Business Machines Corporation (NYSE:IBM) Stake Lessened by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. decreased its holdings in IBM by 2.4%, owning 81,776 shares worth approximately $20.33 million now, making it the firm's 14th largest investment.
• Several institutional investors have increased their positions in IBM recently, with Massachusetts Financial Services Co. MA raising its stake by 173.0% in the fourth quarter.
• IBM reported earnings of $2.80 per share for the last quarter, exceeding analysts' expectations and showcasing a 7.7% revenue increase year-over-year.

Moors & Cabot Inc. cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,776 shares of the technology company's stock after selling 2,041 shares during the period. International Business Machines accounts for approximately 1.0% of Moors & Cabot Inc.'s holdings, making the stock its 14th biggest holding. Moors & Cabot Inc.'s holdings in International Business Machines were worth $20,334,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in IBM. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines in the 1st quarter worth $396,000. Treasurer of the State of North Carolina lifted its holdings in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares in the last quarter. Left Brain Wealth Management LLC lifted its holdings in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in International Business Machines by 5.6% in the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after buying an additional 3,276 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE IBM traded down $3.12 on Friday, hitting $250.03. The stock had a trading volume of 9,664,181 shares, compared to its average volume of 5,033,579. International Business Machines Corporation has a one year low of $181.81 and a one year 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 stock has a market cap of $232.38 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 3.91 and a beta of 0.69. The company's 50-day moving average is $277.20 and its two-hundred day moving average is $257.11.

International Business Machines (NYSE:IBM - Get Free Report) last posted its 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. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America cut 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. UBS Group upped their target price on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley cut their target price 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 analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.