International Business Machines Corporation (NYSE:IBM) Shares Sold by Trajan Wealth LLC

Key Points

• Trajan Wealth LLC reduced its stake in International Business Machines Corporation (IBM) by 27.4%, now holding 19,191 shares valued at approximately $4.77 million.
• IBM reported $2.80 earnings per share for the last quarter, exceeding analysts' expectations, along with a revenue increase of 7.7% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for IBM, with an average price target of $268.75, despite some mixed ratings from research firms.

Trajan Wealth LLC reduced its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 27.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,191 shares of the technology company's stock after selling 7,243 shares during the quarter. Trajan Wealth LLC's holdings in International Business Machines were worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Core Wealth Partners LLC grew its position in International Business Machines by 3.1% during the first quarter. Core Wealth Partners LLC now owns 7,387 shares of the technology company's stock valued at $1,837,000 after acquiring an additional 224 shares during the period. Peak Financial Management Inc. purchased a new stake in International Business Machines during the first quarter valued at about $212,000. Trust Asset Management LLC grew its position in International Business Machines by 1.6% during the first quarter. Trust Asset Management LLC now owns 10,616 shares of the technology company's stock valued at $2,640,000 after acquiring an additional 164 shares during the period. Public Sector Pension Investment Board grew its position in International Business Machines by 103.3% during the first quarter. Public Sector Pension Investment Board now owns 272,565 shares of the technology company's stock valued at $67,776,000 after acquiring an additional 138,464 shares during the period. Finally, AIA Group Ltd grew its position in International Business Machines by 32.6% during the first quarter. AIA Group Ltd now owns 23,678 shares of the technology company's stock valued at $5,888,000 after acquiring an additional 5,828 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE:IBM traded down $1.89 during trading hours on Tuesday, reaching $234.41. 8,749,624 shares of the stock were exchanged, compared to its average volume of 6,354,524. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a 50 day simple moving average of $274.96 and a 200-day simple moving average of $258.39. International Business Machines Corporation has a 52 week low of $189.21 and a 52 week high of $296.16. The stock has a market capitalization of $217.86 billion, a P/E ratio of 38.05, a P/E/G ratio of 3.65 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the business posted $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IBM. BMO Capital Markets upped their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. UBS Group upped their target price on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Wedbush upped their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Finally, Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, International Business Machines presently has an average rating of "Moderate Buy" and a consensus 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.