Phillips Financial Management LLC Buys New Shares in International Business Machines Corporation $IBM

Phillips Financial Management LLC purchased a new position in International Business Machines Corporation (NYSE:IBM) in the second quarter, HoldingsChannel.com reports. The firm purchased 708 shares of the technology company’s stock, valued at approximately $209,000.

A number of other large investors have also recently made changes to their positions in IBM. Brighton Jones LLC raised its stake in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. GAMMA Investing LLC increased its stake in shares of International Business Machines by 19.3% in the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock worth $4,400,000 after purchasing an additional 2,862 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of International Business Machines by 2.9% in the first quarter. Flagship Harbor Advisors LLC now owns 10,544 shares of the technology company’s stock worth $2,622,000 after purchasing an additional 295 shares in the last quarter. Chapin Davis Inc. increased its stake in shares of International Business Machines by 9.2% in the first quarter. Chapin Davis Inc. now owns 1,170 shares of the technology company’s stock worth $291,000 after purchasing an additional 99 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of International Business Machines by 0.5% in the first quarter. GHP Investment Advisors Inc. now owns 79,065 shares of the technology company’s stock worth $19,660,000 after purchasing an additional 371 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of analyst reports. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of International Business Machines from $253.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Sanford C. Bernstein started coverage on shares of International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $289.08.

International Business Machines Stock Performance

IBM opened at $282.07 on Wednesday. The stock has a market capitalization of $262.16 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 4.36 and a beta of 0.73. The company has a fifty day moving average of $262.97 and a 200 day moving average of $262.39. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week 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.

International Business Machines (NYSE:IBM) last posted 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. The company had revenue of $16.98 billion during 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%. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $2.43 earnings per share. As a group, sell-side 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.