Jackson Thornton Wealth Management LLC Sells 526 Shares of International Business Machines Corporation $IBM

Jackson Thornton Wealth Management LLC trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 42.7% in the second quarter, HoldingsChannel.com reports. The fund owned 706 shares of the technology company’s stock after selling 526 shares during the quarter. Jackson Thornton Wealth Management LLC’s holdings in International Business Machines were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IBM. Lifestyle Asset Management Inc. grew its position in International Business Machines by 1.7% during the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after buying an additional 36 shares in the last quarter. Whelan Financial grew its position in International Business Machines by 2.4% during the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after buying an additional 36 shares in the last quarter. Ignite Planners LLC grew its position in International Business Machines by 0.9% during the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock worth $1,133,000 after buying an additional 36 shares in the last quarter. Blue Edge Capital LLC grew its position in International Business Machines by 0.6% during the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after buying an additional 39 shares in the last quarter. Finally, Johnson Bixby & Associates LLC grew its position in International Business Machines by 3.3% during the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after buying an additional 39 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $282.07 on Wednesday. International Business Machines Corporation has a one year low of $203.51 and a one year 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. The company has a 50 day moving average price of $262.97 and a 200 day moving average price of $262.39. The firm has a market capitalization of $262.16 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 4.36 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 earnings per share. Sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price objective on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $289.08.

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.