US Bancorp DE Sells 11,521 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• US Bancorp DE has reduced its stake in International Business Machines Corporation (IBM) by 2.1%, selling 11,521 shares and holding a total of 546,215 shares valued at approximately $135.8 million.
• Multiple institutional investors have adjusted their positions in IBM, with significant increases in holdings, including Left Brain Wealth Management raising its stake by 1,547.8% to own 17,664 shares.
• IBM recently reported earnings of $2.80 per share for the quarter, exceeding estimates and marking a 7.7% revenue increase year-over-year, with projected earnings of 10.78 EPS for the current year.

US Bancorp DE reduced its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 546,215 shares of the technology company's stock after selling 11,521 shares during the quarter. US Bancorp DE owned approximately 0.06% of International Business Machines worth $135,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the 1st quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of International Business Machines in the 1st quarter worth about $45,000. Park Square Financial Group LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth about $43,000. Finally, Park Place Capital Corp grew its position in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

IBM traded down $3.12 during midday trading on Friday, hitting $250.03. 9,664,181 shares of the company traded hands, compared to its average volume of 5,033,579. 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 market capitalization of $232.38 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.69. The company's 50-day moving average is $277.20 and its 200 day moving average is $257.11. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, UBS Group increased their price objective on shares of 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 issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $268.75.

About International Business Machines

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.