Vanguard Group Inc. Has $23.16 Billion Stake in International Business Machines Corporation (NYSE:IBM)

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. grew its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,137,767 shares of the technology company's stock after acquiring an additional 1,298,515 shares during the quarter. International Business Machines comprises about 0.4% of Vanguard Group Inc.'s investment portfolio, making the stock its 29th largest holding. Vanguard Group Inc. owned about 10.02% of International Business Machines worth $23,159,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new stake in International Business Machines in the first quarter worth about $396,000. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in International Business Machines by 5.6% during the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after buying an additional 3,276 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

IBM traded down $8.28 on Friday, hitting $241.88. The company had a trading volume of 6,821,307 shares, compared to its average volume of 5,876,410. The company's fifty day moving average price is $276.14 and its 200 day moving average price is $258.01. International Business Machines Corporation has a 1-year low of $189.00 and a 1-year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market cap of $224.80 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the company earned $2.43 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on IBM. UBS Group boosted their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a report on Thursday, July 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus lifted their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. One 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.