Wealthspire Advisors LLC Has $14.41 Million Stake in International Business Machines Corporation (NYSE:IBM)

Key Points

• Wealthspire Advisors LLC has significantly increased its stake in IBM by 110.1%, holding approximately $14.41 million worth of shares as of their latest SEC filing.
• IBM reported earnings of $2.80 per share, surpassing analyst expectations of $2.65, with a revenue of $16.98 billion for the quarter, marking a 7.7% year-over-year increase.
• Wall Street analysts have raised their price targets for IBM, with estimates ranging from $310 to $325 per share, indicating a consensus rating of "Moderate Buy".

Wealthspire Advisors LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 110.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,952 shares of the technology company's stock after buying an additional 30,369 shares during the period. Wealthspire Advisors LLC's holdings in International Business Machines were worth $14,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Leisure Capital Management increased its holdings in shares of International Business Machines by 4.4% in the first quarter. Leisure Capital Management now owns 5,300 shares of the technology company's stock valued at $1,318,000 after purchasing an additional 222 shares during the last quarter. Associated Banc Corp increased its holdings in shares of International Business Machines by 0.5% in the first quarter. Associated Banc Corp now owns 16,007 shares of the technology company's stock valued at $3,980,000 after purchasing an additional 83 shares during the last quarter. Maxi Investments CY Ltd acquired a new position in shares of International Business Machines in the first quarter valued at $995,000. McClarren Financial Advisors Inc. acquired a new position in shares of International Business Machines in the first quarter valued at $209,000. Finally, Ranch Capital Advisors Inc. increased its holdings in shares of International Business Machines by 4.6% in the first quarter. Ranch Capital Advisors Inc. now owns 13,947 shares of the technology company's stock valued at $3,468,000 after purchasing an additional 613 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8%

Shares of NYSE IBM opened at $251.96 on Tuesday. The company has a 50 day simple moving average of $277.06 and a 200 day simple moving average of $257.80. The firm has a market cap of $234.17 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 analyst estimates of $16.58 billion. During the same quarter last year, the business earned $2.43 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. Wedbush upped their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Bank of America decreased their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada upped their price target 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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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