Phoenix Financial Ltd. Invests $2.03 Million in International Business Machines Corporation $IBM

Key Points

• Phoenix Financial Ltd. has invested approximately $2.03 million in International Business Machines Corporation (IBM) by acquiring 6,903 shares during the second quarter.
• IBM reported $2.80 EPS for the last quarter, exceeding estimates of $2.65, with a revenue of $16.98 billion, also surpassing expectations.
• Several analysts have set price targets for IBM, with Royal Bank of Canada maintaining an "outperform" rating and a target price of $315.00, while the consensus rating for the stock is "Hold" with an average target of $289.08.

Phoenix Financial Ltd. purchased a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,903 shares of the technology company's stock, valued at approximately $2,034,000.

A number of other hedge funds also recently modified their holdings of IBM. Family CFO Inc acquired a new position in shares of International Business Machines during the second quarter worth $25,000. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the first quarter worth $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines during the first quarter worth $28,000. Dagco Inc. acquired a new position in shares of International Business Machines during the first quarter worth $31,000. Finally, Silicon Valley Capital Partners raised its stake in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $282.07 on Wednesday. The firm has a 50 day moving average of $262.97 and a 200 day moving average of $262.39. 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 capitalization of $262.16 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 4.36 and a beta of 0.73. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $301.04.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.11% and a return on equity of 37.62%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $315.00 target price on shares of International Business Machines in a research note on Thursday, October 16th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a research note on Tuesday. Sanford C. Bernstein initiated coverage on shares of International Business Machines in a research note on Monday, September 15th. They set a "market perform" rating and a $280.00 target price for the company. Morgan Stanley lifted their target price on shares of International Business Machines from $253.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 15th. Finally, Stifel Nicolaus lifted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Business Machines has a consensus rating of "Hold" and an average price target of $289.08.

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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