National Bank of Canada FI Reduces Stock Holdings in International Business Machines Corporation (NYSE:IBM)

National Bank of Canada FI reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 53.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 475,383 shares of the technology company's stock after selling 549,267 shares during the quarter. National Bank of Canada FI owned 0.05% of International Business Machines worth $118,222,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. LaSalle St. Investment Advisors LLC acquired a new stake in International Business Machines during the 1st quarter valued at approximately $828,000. Wambolt & Associates LLC grew its stake in International Business Machines by 122.1% during the 1st quarter. Wambolt & Associates LLC now owns 2,023 shares of the technology company's stock valued at $506,000 after purchasing an additional 1,112 shares in the last quarter. AlphaCore Capital LLC grew its stake in International Business Machines by 190.6% during the 1st quarter. AlphaCore Capital LLC now owns 4,934 shares of the technology company's stock valued at $1,227,000 after purchasing an additional 3,236 shares in the last quarter. WBH Advisory Inc. grew its stake in International Business Machines by 23.8% during the 1st quarter. WBH Advisory Inc. now owns 3,740 shares of the technology company's stock valued at $930,000 after purchasing an additional 720 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in International Business Machines by 11.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,794,724 shares of the technology company's stock valued at $446,276,000 after purchasing an additional 182,023 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 3.3%

Shares of NYSE IBM opened at $241.88 on Friday. The company has a market cap of $224.80 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $189.00 and a 12-month high of $296.16. 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 stock's 50 day simple moving average is $276.14 and its 200 day simple moving average is $258.01.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IBM shares. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. BMO Capital Markets raised their price objective on 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. Bank of America lowered their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $268.75.

About International Business Machines

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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