International Business Machines Corporation (NYSE:IBM) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in International Business Machines Corporation (IBM) by 1.4%, acquiring an additional 1,298,515 shares in the first quarter, bringing its total holdings to approximately $23.16 billion.
• Recent analyst ratings show a mix of optimism, with Goldman Sachs raising its price target for IBM from $270 to $310 and several other firms adjusting their targets, indicating a general sentiment of a "Moderate Buy."
• The company reported a quarterly EPS of $2.80, surpassing analyst expectations, alongside a revenue of $16.98 billion, demonstrating a 7.7% year-over-year increase.

Vanguard Group Inc. boosted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,137,767 shares of the technology company's stock after buying an additional 1,298,515 shares during the quarter. International Business Machines makes up about 0.4% of Vanguard Group Inc.'s investment portfolio, making the stock its 29th largest holding. Vanguard Group Inc. owned approximately 10.02% of International Business Machines worth $23,159,637,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Dimensions Group Ltd. increased its holdings in International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock worth $1,195,000 after purchasing an additional 42 shares during the period. DMC Group LLC increased its stake in shares of International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after purchasing an additional 42 shares in the last quarter. Titleist Asset Management LLC raised 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 period. Finally, Range Financial Group LLC raised its position in shares of International Business Machines by 0.6% during the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 43 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.7%

Shares of IBM stock traded up $1.85 during trading hours on Wednesday, reaching $252.52. 3,684,613 shares of the company's stock were exchanged, compared to its average volume of 5,702,260. International Business Machines Corporation has a fifty-two week low of $186.70 and a fifty-two week high of $296.16. The stock's 50 day moving average is $276.81 and its 200-day moving average is $257.75. 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 has a market cap of $234.69 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 3.87 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 net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IBM shares. UBS Group upped their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.