D.A. Davidson & CO. Lowers Stake in International Business Machines Corporation $IBM

D.A. Davidson & CO. lessened its holdings in International Business Machines Corporation (NYSE:IBM) by 2.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 197,731 shares of the technology company’s stock after selling 4,901 shares during the quarter. D.A. Davidson & CO.’s holdings in International Business Machines were worth $58,287,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Brooklyn Investment Group raised its stake in International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA boosted its stake 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 purchasing an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC grew its position 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 purchasing an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC raised its holdings in International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after buying an additional 2,399 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after buying an additional 3,276 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.6%

IBM opened at $282.07 on Wednesday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The stock has a market capitalization of $262.16 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 4.36 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The firm has a 50 day moving average price of $262.97 and a 200-day moving average price of $262.39.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm 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%.International Business Machines’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 EPS. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent analyst reports. 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 note on Thursday, July 24th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Jefferies Financial Group upped their target price on shares of International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday, October 8th. Finally, Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $289.08.

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.