PARK CIRCLE Co Cuts Holdings in International Business Machines Corporation (NYSE:IBM)

PARK CIRCLE Co reduced its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 50.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the technology company's stock after selling 7,100 shares during the quarter. International Business Machines comprises 1.6% of PARK CIRCLE Co's investment portfolio, making the stock its 16th biggest holding. PARK CIRCLE Co's holdings in International Business Machines were worth $1,765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IBM. Christopher J. Hasenberg Inc acquired a new position in International Business Machines during the first quarter worth $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the first quarter valued at $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth $43,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on IBM. Royal Bank Of Canada increased their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Bank of America reduced 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 report on Thursday, July 24th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Up 0.7%

Shares of NYSE:IBM opened at $252.52 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm has a market cap of $234.69 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 3.87 and a beta of 0.69. The stock's 50-day moving average price is $276.66 and its two-hundred day moving average price is $257.71. International Business Machines Corporation has a 12-month low of $186.70 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the firm posted $2.43 EPS. The company's revenue was up 7.7% on a year-over-year basis. On average, research 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.

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