Sound Financial Strategies Group LLC Sells 1,429 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Sound Financial Strategies Group LLC reduced its holdings in International Business Machines Corporation (IBM) by 33.3%, selling 1,429 shares and bringing their total to 2,859 shares worth approximately $711,000.
• In the latest earnings report, IBM beat earnings expectations with an EPS of $2.80, surpassing the consensus estimate of $2.65, and reported a revenue increase of 7.7% year-over-year.
• JPMorgan Chase raised their price target for IBM from $244.00 to $290.00 while maintaining a "neutral" rating, contributing to a consensus average price target of $268.75 among analysts.

Sound Financial Strategies Group LLC trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,859 shares of the technology company's stock after selling 1,429 shares during the period. Sound Financial Strategies Group LLC's holdings in International Business Machines were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Christopher J. Hasenberg Inc purchased a new stake in International Business Machines in the 1st quarter worth about $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines during the 1st quarter valued at about $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines during the fourth quarter worth about $43,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines during the fourth quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in International Business Machines in the 4th quarter worth approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 1.2%

NYSE:IBM opened at $250.03 on Friday. The stock has a 50-day simple moving average of $277.20 and a 200-day simple moving average of $257.36. The stock has a market cap of $232.38 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the business earned $2.43 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on IBM. JPMorgan Chase & Co. boosted their price objective on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, UBS Group increased their target price on 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 research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Company 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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