NewEdge Wealth LLC Has $54.17 Million Holdings in International Business Machines Corporation $IBM

Key Points

• NewEdge Wealth LLC increased its IBM stake by 7.6% in the first quarter, buying 15,722 additional shares and bringing its total holding to 223,490 shares valued at about $54.17 million.
• IBM’s latest earnings matched EPS expectations at $2.93 per share, but revenue came in below estimates at $17.16 billion and rose just 1.1% from a year earlier. The company also lowered its full-year revenue outlook, with weakness in mainframe sales weighing on growth prospects.
• Wall Street remains mixed on IBM: analysts currently view the stock as a “Moderate Buy” overall, with an average target price of $278.68, though several firms recently changed their ratings or cut price targets after the outlook reduction.

NewEdge Wealth LLC boosted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,490 shares of the technology company's stock after purchasing an additional 15,722 shares during the period. NewEdge Wealth LLC's holdings in International Business Machines were worth $54,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wiregrass Investment Management LLC boosted its position in International Business Machines by 7.0% during the 1st quarter. Wiregrass Investment Management LLC now owns 3,111 shares of the technology company's stock worth $754,000 after acquiring an additional 204 shares during the last quarter. Arvest Bank Trust Division raised its holdings in shares of International Business Machines by 2.0% in the first quarter. Arvest Bank Trust Division now owns 9,799 shares of the technology company's stock valued at $2,375,000 after purchasing an additional 190 shares during the last quarter. Alesco Advisors LLC An ESL Co raised its holdings in shares of International Business Machines by 67.3% in the first quarter. Alesco Advisors LLC An ESL Co now owns 2,537 shares of the technology company's stock valued at $615,000 after purchasing an additional 1,021 shares during the last quarter. CI Investments Inc. lifted its position in shares of International Business Machines by 26.5% in the first quarter. CI Investments Inc. now owns 118,132 shares of the technology company's stock worth $28,634,000 after purchasing an additional 24,711 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of International Business Machines by 50.5% in the first quarter. First Trust Advisors LP now owns 3,330,537 shares of the technology company's stock worth $807,289,000 after purchasing an additional 1,117,210 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of International Business Machines from $267.00 to $293.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. KeyCorp cut shares of International Business Machines to a "sector weight" rating in a research report on Tuesday, June 23rd. Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a research note on Tuesday, June 23rd. Barclays decreased their price objective on International Business Machines from $350.00 to $288.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Stifel Nicolaus dropped their target price on International Business Machines from $290.00 to $235.00 and set a "buy" rating on the stock in a report on Monday. Fifteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $278.68.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM’s earnings matched Wall Street’s EPS estimate, and the company continues to emphasize AI-driven productivity, quantum computing, and strong free-cash-flow generation. IBM (IBM) Matches Q2 Earnings Estimates
• Neutral Sentiment: After the release, IBM shares saw some after-hours recovery as investors focused on long-term AI and quantum initiatives rather than the immediate headline miss. IBM just cut its outlook. Why its stock is bouncing anyway.
• Negative Sentiment: IBM lowered full-year revenue guidance and posted weaker sales than expected, with mainframe revenue notably under pressure, raising concerns about near-term growth. IBM Lowers Its Growth Outlook as Sales of Data Center Mainframes Sink 42%
• Negative Sentiment: Multiple law firms announced securities-fraud investigations following IBM’s sharp stock decline and guidance cut, adding an overhang for investors. IBM Investigated by the Portnoy Law Firm

International Business Machines Stock Performance

IBM opened at $206.03 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $204.44 and a 12-month high of $332.46. The business has a 50 day moving average of $263.26 and a 200-day moving average of $261.42. The stock has a market cap of $193.64 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.27 and a beta of 0.68.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $17.48 billion. During the same period in the previous year, the firm earned $2.80 EPS. The firm's revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that International Business Machines Corporation will post 12.19 earnings per share for the current year.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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