Wambolt & Associates LLC Buys 1,112 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• Wambolt & Associates LLC increased its stake in International Business Machines Corporation (IBM) by 122.1%, holding 2,023 shares valued at $506,000 after purchasing an additional 1,112 shares in the first quarter.
• IBM reported $2.80 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $2.65, with a year-over-year revenue increase of 7.7% to $16.98 billion.
• The stock has a current market price of $249.91 and a consensus rating of "Moderate Buy" with an average price target of $268.75.

Wambolt & Associates LLC boosted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 122.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,023 shares of the technology company's stock after purchasing an additional 1,112 shares during the period. Wambolt & Associates LLC's holdings in International Business Machines were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Wealth Dimensions Group Ltd. raised its stake in International Business Machines by 1.0% during the fourth 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 increased its position in shares of International Business Machines by 0.9% during the 1st 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 in the last quarter. DMC Group LLC lifted its holdings in International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after purchasing an additional 42 shares during the last quarter. Range Financial Group LLC boosted its position in International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after buying an additional 43 shares in the last quarter. Finally, Private Wealth Partners LLC grew its stake in International Business Machines by 1.7% during the first quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock worth $658,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted 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. Melius Research upgraded International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Wedbush upped their price target 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. Finally, UBS Group raised 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 given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on 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 Trading Down 3.3%

Shares of International Business Machines stock traded down $8.28 on Friday, hitting $241.88. 6,821,307 shares of the company's stock traded hands, compared to its average volume of 5,876,410. The firm's 50-day moving average price is $276.14 and its two-hundred day moving average price is $258.01. 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 capitalization of $224.80 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a one year low of $189.00 and a one year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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 business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

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.