International Business Machines Corporation (NYSE:IBM) Shares Acquired by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 16.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,336 shares of the technology company’s stock after buying an additional 5,426 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in International Business Machines were worth $9,533,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines during the 1st quarter valued at about $396,000. Left Brain Wealth Management LLC increased its stake in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC increased its stake in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after buying an additional 2,399 shares during the period. Wedbush Securities Inc. increased its stake in International Business Machines by 5.6% during the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock valued at $15,434,000 after buying an additional 3,276 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in International Business Machines during the 1st quarter valued at about $4,608,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $239.75 on Friday. International Business Machines Corporation has a one year low of $192.86 and a one year high of $296.16. The company has a 50-day moving average of $273.29 and a two-hundred day moving average of $258.46. The stock has a market cap of $222.82 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 3.65 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.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $16.58 billion. During the same period last year, the company posted $2.43 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. BMO Capital Markets raised their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

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.