Alliance Wealth Advisors LLC UT Decreases Stock Position in International Business Machines Corporation (NYSE:IBM)

Alliance Wealth Advisors LLC UT lessened its position in International Business Machines Corporation (NYSE:IBM) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,983 shares of the technology company’s stock after selling 1,444 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in International Business Machines were worth $3,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $28,000. Dagco Inc. acquired a new stake in shares of International Business Machines in the first quarter valued at approximately $31,000. Measured Risk Portfolios Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $239.75 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $222.82 billion, a PE ratio of 38.92, a P/E/G ratio of 3.65 and a beta of 0.69. International Business Machines Corporation has a 12-month low of $192.86 and a 12-month high of $296.16. The business’s fifty day moving average price is $273.29 and its 200 day moving average price is $258.46.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.43 EPS. On average, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on IBM shares. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Morgan Stanley cut their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus raised their target price on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, International Business Machines presently has an average rating of “Moderate Buy” and a consensus target price of $268.75.

International Business Machines 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.