Cooper Financial Group increased its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 4.5% during the first quarter, HoldingsChannel reports. The fund owned 8,555 shares of the technology company’s stock after buying an additional 365 shares during the quarter. Cooper Financial Group’s holdings in International Business Machines were worth $2,127,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG bought a new stake in shares of International Business Machines in the 1st quarter valued at about $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of International Business Machines in the 1st quarter valued at about $45,000. Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Finally, Park Place Capital Corp grew its position in shares of International Business Machines by 42.6% in the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock valued at $48,000 after buying an additional 58 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on IBM shares. Stifel Nicolaus upped their price target on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. UBS Group upped their price target on International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research report on Thursday, July 24th. Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Finally, Melius Research upgraded International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.75.
International Business Machines Stock Down 3.3%
Shares of NYSE:IBM opened at $241.88 on Friday. The business’s 50 day simple moving average is $276.14 and its two-hundred day simple moving average is $258.25. The firm has a market cap of $224.80 billion, a P/E ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52-week low of $189.00 and a 52-week high of $296.16.
International Business Machines (NYSE:IBM – Get Free Report) last announced 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 analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company’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. As a group, research analysts forecast 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.
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