International Business Machines Corporation $IBM Shares Acquired by Fidato Wealth LLC

Fidato Wealth LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 2.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,824 shares of the technology company’s stock after purchasing an additional 42 shares during the quarter. International Business Machines accounts for approximately 0.3% of Fidato Wealth LLC’s investment portfolio, making the stock its 15th largest holding. Fidato Wealth LLC’s holdings in International Business Machines were worth $454,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares during the period. GQG Partners LLC purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $1,040,057,000. Nuveen LLC purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $960,386,000. Northern Trust Corp raised its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $302,564,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBM shares. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. UBS Group raised 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. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada raised their price objective 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. Finally, Bank of America decreased their price objective on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $268.75.

International Business Machines Stock Performance

Shares of IBM opened at $239.75 on Monday. International Business Machines Corporation has a 1 year low of $192.86 and a 1 year high of $296.16. The company has a market cap of $222.82 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. 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 has a fifty day moving average of $273.29 and a 200-day moving average of $258.66.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results 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. 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 previous year, the company posted $2.43 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.