International Business Machines (NYSE:IBM) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

International Business Machines (NYSE:IBMGet Rating) issued its earnings results on Wednesday. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.61 by ($0.01), Yahoo Finance reports. International Business Machines had a return on equity of 41.50% and a net margin of 2.08%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.38 billion. During the same period last year, the firm posted $3.35 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year.

International Business Machines Trading Down 0.5 %

Shares of NYSE:IBM traded down $0.73 during trading hours on Wednesday, hitting $140.76. 6,744,693 shares of the company’s stock traded hands, compared to its average volume of 4,198,734. International Business Machines has a 1 year low of $115.54 and a 1 year high of $153.21. The business has a fifty day moving average price of $144.54 and a 200-day moving average price of $135.54. The firm has a market capitalization of $127.26 billion, a P/E ratio of 102.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.89. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.95 and a quick ratio of 0.89.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IBM shares. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Bank of America reduced their target price on International Business Machines from $155.00 to $145.00 in a report on Tuesday, October 18th. Evercore ISI lifted their price target on International Business Machines from $135.00 to $150.00 in a research report on Tuesday, January 17th. Stifel Nicolaus lifted their price target on International Business Machines from $140.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Moffett Nathanson upgraded International Business Machines from an “underperform” rating to a “market perform” rating and set a $140.00 price target for the company in a research report on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $142.30.

Insider Buying and Selling at International Business Machines

In other news, VP Bene Robert F. Del sold 3,000 shares of International Business Machines stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.36, for a total transaction of $445,080.00. Following the completion of the sale, the vice president now owns 14,553 shares of the company’s stock, valued at $2,159,083.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently modified their holdings of IBM. Arrowstreet Capital Limited Partnership raised its stake in shares of International Business Machines by 35.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock valued at $579,892,000 after acquiring an additional 1,163,790 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in International Business Machines by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock valued at $2,119,007,000 after acquiring an additional 1,105,170 shares in the last quarter. Cowa LLC boosted its position in International Business Machines by 9,750.6% during the 1st quarter. Cowa LLC now owns 476,574 shares of the technology company’s stock valued at $620,000 after acquiring an additional 471,736 shares in the last quarter. Federated Hermes Inc. boosted its position in International Business Machines by 2,345.1% during the first quarter. Federated Hermes Inc. now owns 347,893 shares of the technology company’s stock valued at $45,233,000 after purchasing an additional 333,665 shares in the last quarter. Finally, Eaton Vance Management boosted its position in International Business Machines by 38.7% during the first quarter. Eaton Vance Management now owns 1,132,418 shares of the technology company’s stock valued at $147,237,000 after purchasing an additional 315,733 shares in the last quarter. Institutional investors own 55.90% of the company’s stock.

International Business Machines Company Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

Further Reading

Earnings History for International Business Machines (NYSE:IBM)

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