Smartleaf Asset Management LLC Acquires 1,576 Shares of International Business Machines Corporation $IBM

Key Points

• Smartleaf Asset Management LLC increased its stake in International Business Machines Corporation by 15.8% during the first quarter, bringing its total shares to 11,538 valued at approximately $2.8 million.
• Several hedge funds also raised their positions in IBM, with 58.96% of the stock now owned by institutional investors.
• Analysts have given mixed ratings on IBM, with one firm upgrading it to a "strong buy" while another downgraded it to a "hold," reflecting varying expectations around future performance.

Smartleaf Asset Management LLC grew its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,538 shares of the technology company's stock after purchasing an additional 1,576 shares during the quarter. Smartleaf Asset Management LLC's holdings in International Business Machines were worth $2,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBM. GAMMA Investing LLC increased its holdings in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the last quarter. GQG Partners LLC bought a new stake in International Business Machines in the first quarter valued at about $1,040,057,000. Nuveen LLC bought a new stake in International Business Machines in the first quarter valued at about $960,386,000. Northern Trust Corp increased its holdings in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in International Business Machines in the fourth quarter valued at about $302,564,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.0%

Shares of IBM traded up $2.2890 during mid-day trading on Friday, hitting $241.6890. 3,129,925 shares of the company's stock were exchanged, compared to its average volume of 5,342,394. The company has a market cap of $224.63 billion, a PE ratio of 39.24, a P/E/G ratio of 3.73 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $194.39 and a 52 week high of $296.16. The company has a 50-day simple moving average of $269.61 and a 200 day simple moving average of $258.01. 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 issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on IBM. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. BMO Capital Markets upped their price objective on shares of 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. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Stifel Nicolaus increased 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 report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.