Public Sector Pension Investment Board Acquires 138,464 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• The Public Sector Pension Investment Board increased its stake in International Business Machines Corporation (NYSE:IBM) by 103.3%, owning 272,565 shares worth approximately $67.8 million after acquiring an additional 138,464 shares in the first quarter.
• Several hedge funds have significantly increased their holdings in IBM, with GAMMA Investing LLC notably boosting its position by 29,564.2%, resulting in a total of 4.4 million shares valued at around $10.9 billion.
• Analysts' opinions on IBM vary, with Goldman Sachs raising its price target to $310 and assigning a "buy" rating, while the overall consensus rating remains a "Moderate Buy" with an average target of $268.75.

Public Sector Pension Investment Board increased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 103.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,565 shares of the technology company's stock after acquiring an additional 138,464 shares during the period. Public Sector Pension Investment Board's holdings in International Business Machines were worth $67,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after buying an additional 1,298,515 shares during the period. Capital World Investors boosted its stake in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp boosted its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after acquiring an additional 722,582 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock worth $1,282,550,000 after acquiring an additional 889,008 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank Of Canada upped their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group upped their price objective on International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wedbush increased their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Finally, Stifel Nicolaus raised their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Price Performance

Shares of IBM traded down $1.89 during midday trading on Tuesday, hitting $234.41. The company's stock had a trading volume of 8,749,624 shares, compared to its average volume of 6,354,524. International Business Machines Corporation has a one year low of $189.21 and a one year high of $296.16. The company's fifty day simple moving average is $274.96 and its two-hundred day simple moving average 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. The stock has a market capitalization of $217.86 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 3.65 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the business posted $2.43 EPS. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal 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.