Strategy Asset Managers LLC Makes New Investment in International Business Machines Corporation (NYSE:IBM)

Key Points

• Strategy Asset Managers LLC has taken a new position in International Business Machines Corporation (IBM) by purchasing 2,852 shares valued at approximately $709,000.
• IBM's stock recently opened at $250.68, having a twelve-month trading range of $183.64 to $296.16, and a market capitalization of $232.98 billion.
• The company reported $2.80 earnings per share for the recent quarter, exceeding analysts' estimates of $2.65 and showing a revenue increase of 7.7% year-over-year.

Strategy Asset Managers LLC acquired a new position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,852 shares of the technology company's stock, valued at approximately $709,000.

A number of other institutional investors have also added to or reduced their stakes in IBM. Brighton Jones LLC increased its stake in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Titleist Asset Management LLC increased its position in shares of International Business Machines by 3.1% during the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after purchasing an additional 43 shares during the last quarter. Cerity Partners LLC increased its position in shares of International Business Machines by 2.3% during the 4th quarter. Cerity Partners LLC now owns 306,706 shares of the technology company's stock valued at $67,473,000 after purchasing an additional 7,015 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of International Business Machines during the 4th quarter valued at about $315,000. Finally, Invesco Ltd. increased its position in shares of International Business Machines by 5.1% during the 4th quarter. Invesco Ltd. now owns 4,036,860 shares of the technology company's stock valued at $887,423,000 after purchasing an additional 194,814 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Down 0.9%

NYSE IBM traded down $2.37 on Thursday, hitting $249.91. The company's stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. International Business Machines Corporation has a 52-week low of $187.00 and a 52-week high of $296.16. 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 company's 50-day simple moving average is $276.48 and its 200 day simple moving average is $257.89. The firm has a market cap of $232.26 billion, a P/E ratio of 40.57, a PEG ratio of 3.89 and a beta of 0.69.

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, topping 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 business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter last year, the business posted $2.43 EPS. The business's revenue was up 7.7% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IBM. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased 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. Finally, UBS Group increased their price objective on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. One research 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.