PGIM Custom Harvest LLC Has $477,000 Holdings in International Business Machines Corporation $IBM

PGIM Custom Harvest LLC lifted its holdings in International Business Machines Corporation (NYSE:IBM) by 53.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,919 shares of the technology company’s stock after purchasing an additional 667 shares during the period. PGIM Custom Harvest LLC’s holdings in International Business Machines were worth $477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MinichMacGregor Wealth Management LLC bought a new position in International Business Machines in the 1st quarter worth $396,000. Brooklyn Investment Group raised its holdings in International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA raised its holdings in International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after acquiring an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after acquiring an additional 2,399 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $242.3790 on Thursday. 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 firm’s 50-day simple moving average is $271.15 and its 200-day simple moving average is $258.32. International Business Machines Corporation has a twelve month low of $194.12 and a twelve month high of $296.16. The firm has a market cap of $225.27 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 3.71 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating 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 business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the business earned $2.43 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. UBS Group boosted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. 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 report on Thursday, July 24th. Finally, Bank of America dropped their price objective on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price 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.