Pacific Wealth Management Makes New $315,000 Investment in International Business Machines Corporation $IBM

Key Points

• Pacific Wealth Management purchased 1,068 shares of International Business Machines Corporation (IBM), valued at around $315,000, making it the firm's 18th largest holding.
• Several large investors, including Brighton Jones LLC and GAMMA Investing LLC, have significantly increased their stakes in IBM, reflecting growing institutional confidence in the company.
• IBM reported a quarterly earnings per share (EPS) of $2.80, exceeding the consensus estimate, and its revenue rose by 7.7% year-over-year to $16.98 billion.

Pacific Wealth Management bought a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,068 shares of the technology company's stock, valued at approximately $315,000. International Business Machines accounts for about 0.2% of Pacific Wealth Management's holdings, making the stock its 18th largest holding.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after buying an additional 2,323 shares during the period. GAMMA Investing LLC raised its position in shares of International Business Machines by 19.3% in the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock worth $4,400,000 after acquiring an additional 2,862 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of International Business Machines by 2.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 10,544 shares of the technology company's stock valued at $2,622,000 after purchasing an additional 295 shares during the period. Chapin Davis Inc. boosted its position in shares of International Business Machines by 9.2% during the first quarter. Chapin Davis Inc. now owns 1,170 shares of the technology company's stock valued at $291,000 after purchasing an additional 99 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in International Business Machines by 0.5% in the first quarter. GHP Investment Advisors Inc. now owns 79,065 shares of the technology company's stock worth $19,660,000 after purchasing an additional 371 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 0.4%

International Business Machines stock opened at $283.09 on Wednesday. The firm has a market cap of $263.10 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 4.36 and a beta of 0.73. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The stock has a fifty day simple moving average of $262.97 and a two-hundred day simple moving average of $262.39.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. Finally, Sanford C. Bernstein began coverage on International Business Machines in a research report on Monday, September 15th. They set a "market perform" rating and a $280.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, International Business Machines presently has a consensus rating of "Hold" and a consensus target price of $289.08.

International Business Machines Company Profile

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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