Cypress Capital Group Sells 2,171 Shares of International Business Machines Corporation (NYSE:IBM)

Cypress Capital Group reduced its holdings in International Business Machines Corporation (NYSE:IBM) by 11.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,788 shares of the technology company’s stock after selling 2,171 shares during the quarter. Cypress Capital Group’s holdings in International Business Machines were worth $4,175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines in the 1st quarter valued at $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the 1st quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Park Square Financial Group LLC acquired a new position in shares of International Business Machines during the 4th quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth about $43,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $241.88 on Monday. The company’s 50 day moving average price is $276.14 and its two-hundred day moving average price is $258.48. International Business Machines Corporation has a 12-month low of $189.00 and a 12-month high of $296.16. The firm has a market cap of $224.80 billion, a PE ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share 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 during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the prior year, the firm posted $2.43 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analysts Set New Price Targets

IBM has been the topic of several recent analyst 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 research note on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

About International Business Machines

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.