Sei Investments Co. Purchases 6,146 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Sei Investments Co. increased its stake in International Business Machines Corporation (IBM) by 2.1% during the first quarter, raising its total holdings to 297,516 shares valued at approximately $71.24 million.
• During the same period, other institutional investors, including Capital World Investors and GAMMA Investing LLC, significantly boosted their positions in IBM, resulting in institutional ownership of 58.96% of the company.
• IBM's quarterly earnings report revealed an EPS of $2.80, exceeding expectations, with revenues reaching $16.98 billion, marking a year-over-year increase of 7.7%.

Sei Investments Co. raised its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 297,516 shares of the technology company's stock after purchasing an additional 6,146 shares during the quarter. Sei Investments Co.'s holdings in International Business Machines were worth $71,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of IBM. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines in the 1st quarter worth about $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Dagco Inc. bought a new stake in shares of International Business Machines in the 1st quarter worth about $31,000. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines in the 4th quarter worth about $43,000. Finally, Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth about $43,000. Institutional investors own 58.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IBM shares. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday. Bank of America reduced 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 research note on Thursday, July 24th. Finally, UBS Group raised their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Up 1.1%

Shares of NYSE:IBM traded up $2.64 during trading on Friday, reaching $239.75. The stock had a trading volume of 4,339,819 shares, compared to its average volume of 6,855,263. International Business Machines Corporation has a one year low of $192.86 and a one year high of $296.16. The company has a market capitalization of $222.82 billion, a P/E ratio of 38.92, a PEG ratio of 3.65 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The firm's 50-day simple moving average is $273.29 and its 200 day simple moving average is $258.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results 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. 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 analysts' expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. The company's revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.