Nuveen LLC Takes Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Nuveen LLC has acquired approximately 3.86 million shares of International Business Machines Corporation (IBM), valued at around $960 million, representing a 0.42% stake in the company.
• Institutional investors collectively hold about 58.96% of IBM's stock, with Vanguard Group and Capital World Investors significantly increasing their stakes in recent quarters.
• IBM's latest quarterly earnings exceeded forecasts, reporting $2.80 EPS and revenue of $16.98 billion, marking a 7.7% year-over-year increase.

Nuveen LLC purchased a new position in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,862,244 shares of the technology company's stock, valued at approximately $960,386,000. Nuveen LLC owned about 0.42% of International Business Machines as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. MinichMacGregor Wealth Management LLC purchased a new stake in shares of International Business Machines in the first quarter worth about $396,000. Left Brain Wealth Management LLC increased its position in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC increased its position in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after purchasing an additional 3,276 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of International Business Machines in the first quarter worth approximately $4,608,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.8%

IBM stock traded down $1.89 on Tuesday, reaching $234.41. The company's stock had a trading volume of 8,749,624 shares, compared to its average volume of 4,772,840. The business has a fifty day simple moving average of $275.58 and a two-hundred day simple moving average of $258.56. International Business Machines Corporation has a 12-month low of $189.21 and a 12-month high of $296.16. The firm has a market cap of $217.86 billion, a PE ratio of 38.05, a PEG ratio of 3.74 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

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

Analyst Ratings Changes

Several research analysts recently weighed in on IBM shares. Royal Bank Of Canada upped their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus increased their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley reduced their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock 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 assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.