Zions Bancorporation National Association UT Makes New $350,000 Investment in International Business Machines Corporation (NYSE:IBM)

Key Points

• Zions Bancorporation acquired a new stake in International Business Machines Corporation (IBM), purchasing 1,406 shares valued at approximately $350,000 in the first quarter.
• IBM reported strong quarterly earnings, with an EPS of $2.80, surpassing estimates, and revenue of $16.98 billion, up 7.7% year-over-year.
• Institutional investors and hedge funds control 58.96% of IBM's stock, indicating significant confidence from larger financial entities in the company's future prospects.

Zions Bancorporation National Association UT bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,406 shares of the technology company's stock, valued at approximately $350,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines during the first quarter worth $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines during the first quarter worth about $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines during the fourth quarter worth about $43,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines during the fourth quarter worth about $43,000. 58.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America reduced their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Stifel Nicolaus raised their price target 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. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Price Performance

International Business Machines stock traded down $1.89 during mid-day trading on Tuesday, reaching $234.41. 8,749,624 shares of the company's stock traded hands, compared to its average volume of 6,354,524. The company has a market cap of $217.86 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 3.65 and a beta of 0.69. The stock has a 50 day moving average of $275.58 and a two-hundred day moving average of $258.56. 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 Corporation has a 12-month low of $189.21 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results 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. 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 for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current 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.