Stonebridge Capital Management Inc. Has $4.89 Million Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• Stonebridge Capital Management Inc. reduced its stake in International Business Machines Corporation (IBM) by 6.0%, now holding approximately $4.89 million worth of shares, representing about 2.1% of its investment portfolio.
• Several hedge funds have adjusted their positions in IBM, with Benjamin Edwards Inc. increasing its holdings by 6.5%, while Lcnb Corp expanded their position by 34.2% during the first quarter of the year.
• IBM recently reported $2.80 earnings per share for its latest quarter, exceeding analyst expectations, and has received multiple analyst rating adjustments, with a general bullish outlook reflected in price target increases.

Stonebridge Capital Management Inc. reduced its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,656 shares of the technology company's stock after selling 1,260 shares during the period. International Business Machines comprises approximately 2.1% of Stonebridge Capital Management Inc.'s investment portfolio, making the stock its 15th largest position. Stonebridge Capital Management Inc.'s holdings in International Business Machines were worth $4,888,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Manhattan West Asset Management LLC acquired a new stake in International Business Machines during the 1st quarter worth approximately $201,000. Benjamin Edwards Inc. boosted its position in International Business Machines by 6.5% during the 1st quarter. Benjamin Edwards Inc. now owns 103,025 shares of the technology company's stock worth $25,618,000 after buying an additional 6,245 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of International Business Machines by 1.0% in the 1st quarter. Frank Rimerman Advisors LLC now owns 18,713 shares of the technology company's stock worth $4,653,000 after purchasing an additional 177 shares during the period. Koss Olinger Consulting LLC acquired a new position in shares of International Business Machines in the 1st quarter worth approximately $602,000. Finally, Lcnb Corp lifted its position in shares of International Business Machines by 34.2% in the 1st quarter. Lcnb Corp now owns 4,311 shares of the technology company's stock worth $1,072,000 after purchasing an additional 1,098 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM stock opened at $241.88 on Friday. The firm has a market capitalization of $224.80 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. The firm has a fifty day simple moving average of $276.14 and a two-hundred day simple moving average of $258.01. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $189.00 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.43 EPS. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price target 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. Bank of America dropped 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 report on Thursday, July 24th. 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, JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of "Moderate Buy" and an average target price 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.

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