Nicholas Hoffman & Company LLC. Cuts Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Nicholas Hoffman & Company LLC reduced its stake in International Business Machines Corporation (IBM) by 13.8%, selling 1,563 shares, and now holds 9,753 shares valued at approximately $2,425,000.
• Several hedge funds adjusted their positions in IBM, including Left Brain Wealth Management LLC, which increased its stake by 1,547.8% to over 17,000 shares, reflecting a heightened institutional interest.
• Analysts have updated their price targets for IBM, with JPMorgan raising theirs to $290.00 and BMO Capital Markets increasing it to $300.00, indicating a general sentiment of a Moderate Buy rating for the stock.

Nicholas Hoffman & Company LLC. trimmed its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,753 shares of the technology company's stock after selling 1,563 shares during the period. Nicholas Hoffman & Company LLC.'s holdings in International Business Machines were worth $2,425,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Dimensions Group Ltd. raised its holdings in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC increased its position in shares of International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares in the last quarter. DMC Group LLC raised its holdings in shares of International Business Machines by 1.2% during the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after acquiring an additional 42 shares during the period. Titleist Asset Management LLC lifted its position in International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after acquiring an additional 43 shares in the last quarter. Finally, Range Financial Group LLC boosted its stake in International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after purchasing an additional 43 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBM has been the subject of a number of research reports. Bank of America decreased their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Performance

IBM stock traded down $2.37 during midday trading on Thursday, hitting $249.91. The company's stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. The stock has a market cap of $232.26 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 3.89 and a beta of 0.69. 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's 50-day moving average price is $276.48 and its 200 day moving average price is $257.89. International Business Machines Corporation has a 1 year low of $187.00 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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%. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 earnings per share. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

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.