WealthPlan Investment Management LLC Has $10.33 Million Position in International Business Machines Corporation (NYSE:IBM)

Key Points

• WealthPlan Investment Management LLC reduced its stake in International Business Machines (NYSE:IBM) by 5.3%, now holding 41,526 shares worth approximately $10.33 million.
• IBM reported a quarterly earnings per share (EPS) of $2.80, exceeding analyst expectations of $2.65, with revenue of $16.98 billion for the quarter, a 7.7% increase year-over-year.
• Analysts are optimistic about IBM, with several raising target prices and ratings, leading to a consensus rating of "Moderate Buy" and an average target price of $268.75.

WealthPlan Investment Management LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,526 shares of the technology company's stock after selling 2,305 shares during the quarter. International Business Machines accounts for 1.0% of WealthPlan Investment Management LLC's portfolio, making the stock its 27th largest holding. WealthPlan Investment Management LLC's holdings in International Business Machines were worth $10,326,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter valued at $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines in the 1st quarter valued at approximately $28,000. Measured Risk Portfolios Inc. bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines in the 4th quarter valued at $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in International Business Machines in the 4th quarter valued at $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $252.52 on Thursday. The company has a market capitalization of $234.69 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $186.70 and a 52 week high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a 50 day moving average of $276.66 and a 200 day moving average of $257.71.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. BMO Capital Markets increased their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

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.

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