Phoenix Wealth Advisors Raises Stock Holdings in International Business Machines Corporation $IBM

Phoenix Wealth Advisors increased its position in International Business Machines Corporation (NYSE:IBM) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,231 shares of the technology company’s stock after purchasing an additional 58 shares during the quarter. Phoenix Wealth Advisors’ holdings in International Business Machines were worth $555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. GAMMA Investing LLC grew its stake in International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. GQG Partners LLC bought a new position in International Business Machines in the first quarter worth approximately $1,040,057,000. Nuveen LLC bought a new position in International Business Machines in the first quarter worth approximately $960,386,000. Northern Trust Corp grew its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in International Business Machines during the 4th quarter valued at $302,564,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IBM. Wedbush increased their target price 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. UBS Group increased their target price 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. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. The Goldman Sachs Group increased their price objective on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $268.75.

International Business Machines Stock Performance

Shares of IBM stock opened at $241.6890 on Friday. The firm has a market capitalization of $224.63 billion, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business has a fifty day moving average of $269.61 and a 200 day moving average of $258.01. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM) last issued 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. The company had revenue of $16.98 billion during 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 firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current 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.