International Business Machines Corporation (NYSE:IBM) Stock Position Lifted by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC increased its stake in International Business Machines Corporation by 41.8%, acquiring a total of 6,551 shares valued at approximately $1.629 million.
• International Business Machines posted a quarterly earnings report with $2.80 EPS, surpassing estimates, and revenue of $16.98 billion, indicating a 7.7% year-over-year growth.
• Analysts have recently adjusted price targets for IBM, with a range from $195 to $325, indicating a mixed outlook with ratings from sell to outperform.

Plan Group Financial LLC grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 41.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,551 shares of the technology company's stock after buying an additional 1,932 shares during the quarter. Plan Group Financial LLC's holdings in International Business Machines were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission.

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

International Business Machines Stock Down 0.5%

IBM traded down $1.30 on Tuesday, reaching $250.68. The company's stock had a trading volume of 5,816,071 shares, compared to its average volume of 5,557,375. The stock has a market cap of $232.98 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 3.89 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $183.64 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business's 50 day moving average is $277.06 and its 200 day moving average is $257.80.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during 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 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBM. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines 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.