Core Wealth Partners LLC Has $1.84 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Core Wealth Partners LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,387 shares of the technology company’s stock after purchasing an additional 224 shares during the period. International Business Machines accounts for about 1.1% of Core Wealth Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Core Wealth Partners LLC’s holdings in International Business Machines were worth $1,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IBM. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the 1st quarter worth about $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines during the 1st quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the 1st quarter worth about $45,000. Park Square Financial Group LLC bought a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Finally, Park Place Capital Corp increased its holdings in shares of International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company’s stock worth $48,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Wedbush upped their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $268.75.

International Business Machines Price Performance

NYSE:IBM opened at $236.15 on Tuesday. The firm has a market cap of $219.48 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 3.74 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $189.00 and a 12 month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The company’s 50-day moving average price is $275.58 and its two-hundred day moving average price is $258.56.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the business earned $2.43 earnings per share. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS 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.