International Business Machines Corporation $IBM Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in International Business Machines Corporation (NYSE:IBM) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,108,498 shares of the technology company’s stock after selling 8,388 shares during the period. PNC Financial Services Group Inc.’s holdings in International Business Machines were worth $268,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in International Business Machines in the 4th quarter valued at about $25,000. Family CFO Inc bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $25,000. Joseph Group Capital Management acquired a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Cornerstone Financial Management LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $28,000. Finally, SWAN Capital LLC bought a new stake in International Business Machines during the third quarter worth approximately $28,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Potential upside from AI, cloud, cybersecurity, and consulting demand, which some analysts still expect to support future revenue growth.
• Neutral Sentiment: IBM’s expanded quantum-computing collaboration with Singapore’s military, which could be strategically positive but is unlikely to move near-term results by itself. IBM (IBM) Stock Declines Despite Singapore Military Quantum Computing Partnership Expansion
• Neutral Sentiment: Investor attention ahead of the full Q2 earnings report, with traders watching for management’s commentary on pipeline strength, software growth, and dividend durability. IBM to Report Full Q2 Results After its Historic Stock Crash – Here’s What Investors Will Watch
• Negative Sentiment: Legal investigations from shareholder-rights firms following the guidance cut and stock plunge, which can keep sentiment weak and increase headline risk. International Business Machines Corporation (IBM) Securities Investigation Notice – Levi & Korsinsky
• Negative Sentiment: Concerns that IBM’s recent earnings scare may indicate weaker execution and pressure on the company’s dividend and growth story. After Its Earnings Scare, Is IBM’s Dividend Still Safe?

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IBM shares. Jefferies Financial Group dropped their price target on International Business Machines from $320.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird set a $230.00 price objective on International Business Machines in a research note on Tuesday. Needham & Company LLC began coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Wedbush set a $350.00 target price on International Business Machines in a research report on Tuesday, June 2nd. Finally, Wolfe Research downgraded International Business Machines to a “peer perform” rating in a report on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $278.68.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $210.44 on Wednesday. International Business Machines Corporation has a 12 month low of $204.44 and a 12 month high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The stock has a market cap of $197.79 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The business has a fifty day simple moving average of $263.44 and a 200-day simple moving average of $262.05.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. International Business Machines’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.21 EPS for the current fiscal year.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.