Wellington Management Group LLP Grows Stock Holdings in International Business Machines Corporation $IBM

Key Points

• Wellington Management Group LLP increased its stake in International Business Machines Corporation (IBM) by 10.0%, acquiring a total of 254,059 shares valued at approximately $63.17 million.
• IBM reported a 7.7% increase in year-over-year revenue, with earnings per share at $2.80 for the quarter, surpassing the expected $2.65.
• The company's stock has received mixed reviews from analysts, with price targets ranging from $200 to $325 and an overall average rating of "Hold."

Wellington Management Group LLP lifted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,059 shares of the technology company's stock after buying an additional 23,038 shares during the period. Wellington Management Group LLP's holdings in International Business Machines were worth $63,174,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new position in shares of International Business Machines in the first quarter worth about $396,000. Brooklyn Investment Group increased its holdings in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after buying an additional 1,630 shares during the period. Edgar Lomax Co. VA increased its holdings in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after buying an additional 12,690 shares during the period. Left Brain Wealth Management LLC increased its holdings in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC increased its holdings in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after buying an additional 2,399 shares during the period. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.0%

Shares of NYSE:IBM opened at $241.6890 on Friday. The stock's 50-day moving average is $269.61 and its 200 day moving average 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 company has a market cap of $224.63 billion, a PE ratio of 39.24, a P/E/G ratio of 3.69 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Upgrades and Downgrades

IBM has been the topic of several analyst reports. Wedbush lifted their price objective on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Royal Bank Of Canada lifted their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. UBS Group boosted their price target on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday, July 24th. Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $268.75.

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.

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