Whittier Trust Co. Reduces Position in International Business Machines Corporation $IBM

Key Points

• Whittier Trust Co. reduced its stake in International Business Machines Corporation (IBM) by 3.0% during the second quarter, holding 33,988 shares valued at approximately $10 million.
• Several other institutional investors also modified their positions in IBM, with some acquiring new holdings and others increasing existing ones, indicating fluctuating interest in the company's stock.
• Analyst ratings for IBM vary, with a consensus rating of "Hold" and target prices ranging from $244 to $310, reflecting differing views on the company's future performance.

Whittier Trust Co. decreased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,988 shares of the technology company's stock after selling 1,062 shares during the quarter. Whittier Trust Co.'s holdings in International Business Machines were worth $10,019,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Family CFO Inc acquired a new position in shares of International Business Machines during the 2nd quarter valued at about $25,000. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines during the 1st quarter valued at about $27,000. SSA Swiss Advisors AG acquired a new position in shares of International Business Machines during the 1st quarter valued at about $28,000. Highline Wealth Partners LLC boosted its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Finally, Dagco Inc. acquired a new position in shares of International Business Machines during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. upped their target price 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. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Stifel Nicolaus upped their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $289.08.

International Business Machines Stock Down 0.6%

Shares of IBM opened at $282.07 on Wednesday. The stock has a market capitalization of $262.16 billion, a PE ratio of 45.79, a P/E/G ratio of 4.36 and a beta of 0.73. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company's 50-day simple moving average is $262.97 and its 200-day simple moving average is $262.39.

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 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 net margin of 9.11% and a return on equity of 37.62%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 earnings per share. Analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

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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