Rafferty Asset Management LLC Has $62.74 Million Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Rafferty Asset Management LLC has reduced its stake in International Business Machines (IBM) by 20.9%, now holding 252,305 shares valued at approximately $62.74 million.
• Institutional investors, including Vanguard Group and Goldman Sachs, have increased their positions in IBM, with Vanguard owning over 93 million shares valued at around $23.16 billion.
• IBM reported quarterly earnings of $2.80 EPS, surpassing expectations, and set a FY 2025 guidance at an anticipated 10.78 EPS for the current fiscal year.

Rafferty Asset Management LLC decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 20.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 252,305 shares of the technology company's stock after selling 66,858 shares during the period. Rafferty Asset Management LLC's holdings in International Business Machines were worth $62,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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 valued at $23,159,637,000 after buying an additional 1,298,515 shares during the period. Northern Trust Corp grew its holdings in shares of International Business Machines by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of International Business Machines by 9.8% in the 4th 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 valued at $1,783,281,000 after buying an additional 722,582 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of International Business Machines by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 5,516,240 shares of the technology company's stock valued at $1,371,812,000 after buying an additional 52,317 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of International Business Machines by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company's stock valued at $1,282,550,000 after buying an additional 889,008 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 1.0%

Shares of NYSE:IBM opened at $239.69 on Tuesday. 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 company's 50-day moving average price is $268.77 and its two-hundred day moving average price is $257.92. The stock has a market capitalization of $222.77 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. International Business Machines Corporation has a one year low of $195.90 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its 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 company had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IBM. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America reduced their target price on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. UBS Group upped their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research note on Thursday, July 24th. Finally, Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $268.75.

International Business Machines Company 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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.