S Bank Fund Management Ltd Purchases Shares of 22,500 International Business Machines Corporation (NYSE:IBM)

S Bank Fund Management Ltd purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,500 shares of the technology company's stock, valued at approximately $5,595,000.

Several other large investors also recently made changes to their positions in IBM. National Pension Service increased its stake in shares of International Business Machines by 5.4% during the first quarter. National Pension Service now owns 2,243,542 shares of the technology company's stock valued at $557,879,000 after acquiring an additional 114,397 shares during the period. Klingman & Associates LLC grew its position in International Business Machines by 3.1% in the first quarter. Klingman & Associates LLC now owns 4,682 shares of the technology company's stock worth $1,164,000 after buying an additional 142 shares during the last quarter. Dagco Inc. acquired a new position in International Business Machines in the first quarter worth approximately $31,000. LGT Group Foundation grew its position in International Business Machines by 13.1% in the first quarter. LGT Group Foundation now owns 95,266 shares of the technology company's stock worth $23,689,000 after buying an additional 11,009 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in International Business Machines by 5.1% in the first quarter. Russell Investments Group Ltd. now owns 630,078 shares of the technology company's stock worth $155,974,000 after buying an additional 30,303 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 0.8%

Shares of NYSE IBM opened at $234.41 on Wednesday. The company's 50 day simple moving average is $274.96 and its 200 day simple moving average is $258.39. International Business Machines Corporation has a fifty-two week low of $189.21 and a fifty-two week high of $296.16. The firm has a market capitalization of $217.86 billion, a P/E ratio of 38.05, a P/E/G ratio of 3.65 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last announced 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 net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the business posted $2.43 earnings per share. International Business Machines's revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on IBM. Stifel Nicolaus raised their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley lowered their price target on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Bank of America lowered their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $268.75.

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.

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