Russell Investments Group Ltd. Acquires 30,303 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Russell Investments Group Ltd. increased its ownership of International Business Machines Corporation (IBM) by purchasing an additional 30,303 shares, raising its stake by 5.1% in Q1, which now totals 630,078 shares valued at approximately $156 million.
• Analysts have varying opinions on IBM, with recent price target upgrades from Stifel Nicolaus and Wedbush, reflecting a consensus average rating of "Moderate Buy" and a price target of $268.75.
• IBM reported a 7.7% increase in revenue year-over-year for the latest quarter, with earnings per share of $2.80, exceeding analysts' expectations of $2.65.

Russell Investments Group Ltd. boosted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 630,078 shares of the technology company's stock after purchasing an additional 30,303 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of International Business Machines worth $155,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the 1st quarter valued at $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines in the first quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IBM shares. Stifel Nicolaus upped their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wedbush increased their target price 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. UBS Group increased their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research note on Thursday, July 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $236.15 on Tuesday. The business's fifty day simple moving average is $275.58 and its 200 day simple moving average is $258.56. The firm has a market capitalization of $219.48 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 3.74 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $189.00 and a 12 month high of $296.16. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

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, topping analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.43 earnings per share. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

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.

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