Modera Wealth Management LLC Has $4.96 Million Position in International Business Machines Co. (NYSE:IBM)

Modera Wealth Management LLC boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 14.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,414 shares of the technology company’s stock after acquiring an additional 2,915 shares during the period. Modera Wealth Management LLC’s holdings in International Business Machines were worth $4,955,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Vanguard Group Inc. grew its stake in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Legal & General Group Plc grew its position in shares of International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the period. Ameriprise Financial Inc. increased its stake in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after acquiring an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after acquiring an additional 2,118,165 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $214.67 on Monday. The firm has a market cap of $197.74 billion, a PE ratio of 23.67, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 12 month low of $141.58 and a 12 month high of $237.37. The company’s fifty day simple moving average is $215.58 and its 200-day simple moving average is $190.46. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 EPS. Equities research analysts expect that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. UBS Group upped their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $208.12.

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.