International Business Machines Corporation (NYSE:IBM) Stock Holdings Lowered by Vestcor Inc

Key Points

• Vestcor Inc reduced its stake in International Business Machines Corporation (IBM) by 2.3%, selling 1,768 shares and holding a total of 75,001 shares valued at approximately $18.65 million.
• Several institutional investors, including Geode Capital Management and Capital World Investors, increased their holdings in IBM, demonstrating strong institutional interest in the company.
• IBM stock recently opened at $262.33 and has a market capitalization of $243.81 billion, along with a reported EPS of $2.80 for the latest quarter, reflecting a year-over-year revenue growth of 7.7%.

Vestcor Inc cut its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,001 shares of the technology company's stock after selling 1,768 shares during the period. Vestcor Inc's holdings in International Business Machines were worth $18,650,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IBM. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. UBS Group boosted their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.75.

International Business Machines Stock Performance

IBM stock traded down $2.24 during trading on Wednesday, hitting $260.17. 3,702,970 shares of the company's stock traded hands, compared to its average volume of 4,766,250. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The stock has a fifty day moving average price of $277.48 and a two-hundred day moving average price of $256.64. The stock has a market capitalization of $241.80 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 4.05 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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.