Schnieders Capital Management LLC Sells 6,000 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Schnieders Capital Management LLC reduced its stake in International Business Machines Corporation (IBM) by 13.0%, selling 6,000 shares, and now holds approximately $9.97 million worth of the stock.
• Several other institutional investors have modified their positions, with Brighton Jones LLC increasing its stake by 12.4% and Invesco Ltd. boosting theirs by 5.1% during the last quarter.
• IBM reported a 7.7% year-over-year revenue growth of $16.98 billion and exceeded earnings expectations, posting $2.80 EPS against a consensus estimate of $2.65.

Schnieders Capital Management LLC lessened its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,083 shares of the technology company's stock after selling 6,000 shares during the quarter. International Business Machines makes up about 2.1% of Schnieders Capital Management LLC's investment portfolio, making the stock its 12th largest holding. Schnieders Capital Management LLC's holdings in International Business Machines were worth $9,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Dimensions Group Ltd. grew its holdings in shares of International Business Machines by 1.0% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC grew its holdings in shares of International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after acquiring an additional 42 shares during the period. Titleist Asset Management LLC grew its holdings in shares of International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares during the period. Finally, Range Financial Group LLC grew its holdings in shares of International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock worth $1,828,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded down $2.37 during trading hours on Thursday, hitting $249.91. The stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. International Business Machines Corporation has a one year low of $187.00 and a one year high of $296.16. 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 stock's 50-day moving average price is $276.48 and its two-hundred day moving average price is $257.89. The stock has a market capitalization of $232.26 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 3.89 and a beta of 0.69.

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, topping 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 firm had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the firm posted $2.43 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on IBM. Wedbush lifted 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. Morgan Stanley lowered their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Royal Bank Of Canada lifted their target price on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Melius Research upgraded International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines 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.