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NewEdge Wealth LLC Increases Stock Position in International Business Machines Corporation (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Key Points

  • NewEdge Wealth LLC increased its holdings in International Business Machines Corporation (IBM) by 4.9%, now owning 181,711 shares valued at approximately $45.2 million, making it the firm's 26th largest investment.
  • Major institutional investors, including Capital World Investors and GAMMA Investing LLC, significantly boosted their stakes in IBM, with increases of 413.5% and 29,564.2% respectively.
  • IBM's latest earnings report showed more than 7.7% year-over-year revenue growth, with earnings per share of $2.80, exceeding analyst estimates.
  • Five stocks to consider instead of International Business Machines.

NewEdge Wealth LLC boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,711 shares of the technology company's stock after buying an additional 8,434 shares during the quarter. International Business Machines makes up approximately 0.8% of NewEdge Wealth LLC's investment portfolio, making the stock its 26th biggest holding. NewEdge Wealth LLC's holdings in International Business Machines were worth $45,184,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Capital World Investors increased its position in 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 valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock worth $10,940,520,000 after acquiring an additional 4,384,958 shares during the last quarter. Northern Trust Corp grew its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of International Business Machines during the fourth quarter valued at about $302,564,000. Finally, First Trust Advisors LP boosted its stake in International Business Machines by 26.4% in the 4th quarter. First Trust Advisors LP now owns 4,023,989 shares of the technology company's stock worth $884,593,000 after purchasing an additional 840,064 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America cut their price target 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. UBS Group upped their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets raised their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. One equities 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and a consensus target price of $268.75.

View Our Latest Research Report on International Business Machines

International Business Machines Price Performance

IBM stock opened at $250.03 on Friday. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week 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 price-to-earnings-growth ratio of 3.86 and a beta of 0.69. The business has a fifty day moving average of $277.20 and a two-hundred day moving average of $257.36.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during 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 company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.43 EPS. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

About International Business Machines

(Free Report)

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.

See Also

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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