Scotia Capital Inc. Sells 13,736 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Scotia Capital Inc. reduced its holdings in International Business Machines Corporation (IBM) by 14.2%, selling 13,736 shares and now owns a total of 83,244 shares valued at approximately $20.7 million.
• Several hedge funds significantly increased their positions in IBM, with Capital World Investors boosting its stake by 413.5% and now holding over $2.6 billion in shares.
• Recent analyst reports have raised IBM's target prices, with Wedbush and Goldman Sachs setting new target prices of $325 and $310 respectively, reflecting a strong consensus of a "Moderate Buy."

Scotia Capital Inc. lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,244 shares of the technology company's stock after selling 13,736 shares during the quarter. Scotia Capital Inc.'s holdings in International Business Machines were worth $20,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. Capital World Investors boosted its position in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Northern Trust Corp boosted its position in International Business Machines by 18.6% during 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 acquiring an additional 1,704,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in International Business Machines by 9.8% during 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 acquiring an additional 722,582 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in International Business Machines by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,083,665 shares of the technology company's stock valued at $1,117,548,000 after acquiring an additional 99,510 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the topic of several recent research reports. 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. JPMorgan Chase & Co. boosted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped 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, The Goldman Sachs Group upped their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $250.03 on Monday. The firm has a market capitalization of $232.38 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.86 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. The business has a fifty day moving average of $277.20 and a 200 day moving average of $257.61. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16.

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 analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during 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%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. As a group, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.

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