Prudential PLC decreased its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,993 shares of the technology company's stock after selling 19,943 shares during the period. Prudential PLC's holdings in International Business Machines were worth $27,351,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the 1st quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the 1st quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at approximately $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the 4th quarter valued at approximately $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in International Business Machines in the 4th quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.
International Business Machines Stock Down 0.8%
IBM stock traded down $1.89 during midday trading on Tuesday, reaching $234.41. 8,749,624 shares of the company's stock traded hands, compared to its average volume of 6,354,524. The company has a market cap of $217.86 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of 3.65 and a beta of 0.69. The firm's fifty day moving average price is $274.96 and its 200-day moving average price is $258.39. 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 52 week low of $189.21 and a 52 week high of $296.16.
International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 EPS. As a group, sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on IBM shares. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Bank of America decreased their price target on shares of 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. Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and an average target price of $268.75.
Read Our Latest Research Report on International Business Machines
International Business Machines Company Profile
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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.
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