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Waypoint Wealth Partners Inc. Acquires New Stake in International Business Machines Corporation (NYSE:IBM)

International Business Machines logo with Computer and Technology background

Key Points

  • Waypoint Wealth Partners Inc. purchased 1,050 shares of IBM, valued at approximately $261,000, signaling growing institutional interest in the technology giant.
  • Analysts have varied ratings for IBM, with the average rating being a "Moderate Buy" and a target price of $268.75, highlighting a diverse outlook on the stock's performance.
  • IBM's recent earnings report showed a profit of $2.80 EPS, surpassing forecasts and marking a revenue increase of 7.7% compared to the same quarter last year.
  • Want stock alerts on International Business Machines? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Waypoint Wealth Partners Inc. purchased a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,050 shares of the technology company's stock, valued at approximately $261,000.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the period. Cohen & Steers Inc. grew its position in shares of International Business Machines by 5.9% during the 4th quarter. Cohen & Steers Inc. now owns 2,207 shares of the technology company's stock valued at $485,000 after acquiring an additional 123 shares during the period. Anchor Investment Management LLC grew its position in shares of International Business Machines by 2.3% during the 4th quarter. Anchor Investment Management LLC now owns 7,982 shares of the technology company's stock valued at $1,755,000 after acquiring an additional 183 shares during the period. Acorns Advisers LLC bought a new position in shares of International Business Machines during the 4th quarter valued at approximately $200,000. Finally, NewEdge Advisors LLC grew its position in shares of International Business Machines by 136.4% during the 4th quarter. NewEdge Advisors LLC now owns 275,024 shares of the technology company's stock valued at $60,458,000 after acquiring an additional 158,670 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.1%

Shares of IBM traded up $2.64 during trading hours on Friday, reaching $239.75. 4,339,819 shares of the company traded hands, compared to its average volume of 6,855,263. The firm has a market cap of $222.82 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 3.65 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $192.86 and a 12-month high of $296.16. 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 stock's fifty day moving average price is $273.87 and its 200 day moving average price is $258.36.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping 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 analysts' expectations of $16.58 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IBM shares. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $268.75.

Read Our Latest Analysis on IBM

About International Business Machines

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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