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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