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International Business Machines Corporation (NYSE:IBM) Shares Sold by Providence Capital Advisors LLC

International Business Machines logo with Computer and Technology background

Key Points

  • Providence Capital Advisors LLC reduced its stake in International Business Machines Corporation (IBM) by 42.0%, selling 7,408 shares during the first quarter.
  • IBMs stock is currently valued at $237.31, with an average analyst rating of "Moderate Buy" and a consensus target price of $268.75.
  • In its latest earnings report, IBM surpassed earnings expectations, reporting $2.80 EPS and a revenue of $16.98 billion, marking a 7.7% increase from the previous year.
  • Looking to export and analyze International Business Machines data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Providence Capital Advisors LLC decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 42.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,238 shares of the technology company's stock after selling 7,408 shares during the quarter. Providence Capital Advisors LLC's holdings in International Business Machines were worth $2,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Seaview Investment Managers LLC acquired a new stake in International Business Machines during the first quarter worth approximately $287,000. Trivium Point Advisory LLC grew its position in International Business Machines by 17.4% during the first quarter. Trivium Point Advisory LLC now owns 10,057 shares of the technology company's stock worth $2,501,000 after buying an additional 1,488 shares in the last quarter. Sei Investments Co. grew its position in International Business Machines by 2.1% during the first quarter. Sei Investments Co. now owns 297,516 shares of the technology company's stock worth $71,237,000 after buying an additional 6,146 shares in the last quarter. Waypoint Wealth Partners Inc. acquired a new stake in International Business Machines during the first quarter worth approximately $261,000. Finally, Kovitz Investment Group Partners LLC grew its position in International Business Machines by 80.7% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,840 shares of the technology company's stock worth $24,329,000 after buying an additional 43,709 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of analyst reports. Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Stifel Nicolaus raised their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday. Royal Bank Of Canada raised their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $268.75.

Check Out Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Up 1.1%

IBM stock traded up $2.64 during mid-day trading on Friday, reaching $239.75. 4,339,819 shares of the company traded hands, compared to its average volume of 6,855,263. The stock has a market cap of $222.82 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 3.65 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a fifty-two week low of $192.86 and a fifty-two week high of $296.16. The firm's 50 day moving average price is $273.29 and its 200 day moving average price is $258.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. The business 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%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.43 EPS. As a group, equities research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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