International Business Machines Co. (NYSE:IBM) Shares Sold by FCG Investment Co

FCG Investment Co decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,471 shares of the technology company’s stock after selling 70 shares during the quarter. FCG Investment Co’s holdings in International Business Machines were worth $546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Insight Folios Inc increased its stake in International Business Machines by 4.6% during the third quarter. Insight Folios Inc now owns 38,369 shares of the technology company’s stock worth $8,483,000 after acquiring an additional 1,674 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of International Business Machines by 5.8% in the third quarter. State of Alaska Department of Revenue now owns 108,000 shares of the technology company’s stock valued at $23,876,000 after buying an additional 5,960 shares in the last quarter. Carret Asset Management LLC grew its stake in shares of International Business Machines by 0.3% in the third quarter. Carret Asset Management LLC now owns 19,400 shares of the technology company’s stock valued at $4,289,000 after buying an additional 51 shares in the last quarter. Goldstein Advisors LLC grew its stake in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in shares of International Business Machines by 20.5% in the third quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock valued at $514,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IBM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

Shares of IBM opened at $214.79 on Monday. The stock has a 50 day moving average price of $215.58 and a 200 day moving average price of $190.46. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $197.85 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 52-week low of $142.58 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. Research analysts predict that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

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.