Westfield Capital Management Co. LP Lowers Holdings in International Business Machines Corporation (NYSE:IBM)

Key Points

• Westfield Capital Management Co. LP reduced its stake in International Business Machines Corporation (IBM) by 93.4%, selling 47,323 shares to own only 3,320 shares valued at approximately $826,000.
• In the most recent quarter, IBM reported an earnings per share (EPS) of $2.80, which surpassed analysts' estimates of $2.65, alongside a revenue of $16.98 billion.
• Analysts have mixed ratings on IBM, with one sell, eight holds, nine buys, and two strong buys, resulting in a consensus price target of $268.75.

Westfield Capital Management Co. LP lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 93.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,320 shares of the technology company's stock after selling 47,323 shares during the quarter. Westfield Capital Management Co. LP's holdings in International Business Machines were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Titleist Asset Management LLC increased its position in shares of International Business Machines by 3.1% during the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock valued at $315,000 after buying an additional 43 shares during the period. Cerity Partners LLC lifted its holdings in International Business Machines by 2.3% in the fourth quarter. Cerity Partners LLC now owns 306,706 shares of the technology company's stock worth $67,473,000 after buying an additional 7,015 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $315,000. Finally, Invesco Ltd. raised its position in shares of International Business Machines by 5.1% in the 4th quarter. Invesco Ltd. now owns 4,036,860 shares of the technology company's stock worth $887,423,000 after acquiring an additional 194,814 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KGI Securities set a $242.00 price objective on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Wedbush increased their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. UBS Group lifted their price target on shares of International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. Bank of America cut 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. Finally, Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research 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. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Trading Down 0.9%

NYSE:IBM traded down $2.37 on Thursday, reaching $249.91. The company's stock had a trading volume of 6,248,903 shares, compared to its average volume of 5,738,299. International Business Machines Corporation has a 12-month low of $187.00 and a 12-month high of $296.16. The firm has a market cap of $232.26 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 3.89 and a beta of 0.69. The stock has a 50 day moving average price of $276.48 and a 200 day moving average price of $257.89. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 earnings per share. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

About International Business Machines

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.