Federated Hermes Inc. Cuts Position in International Business Machines Corporation (NYSE:IBM)

Federated Hermes Inc. reduced its position in International Business Machines Corporation (NYSE:IBM) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,142 shares of the technology company’s stock after selling 855 shares during the period. Federated Hermes Inc.’s holdings in International Business Machines were worth $26,642,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in International Business Machines by 63.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 20,077 shares of the technology company’s stock valued at $4,992,000 after purchasing an additional 7,770 shares in the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of International Business Machines by 3.0% in the first quarter. N.E.W. Advisory Services LLC now owns 17,822 shares of the technology company’s stock worth $4,432,000 after buying an additional 513 shares during the period. TCTC Holdings LLC grew its stake in shares of International Business Machines by 0.3% in the first quarter. TCTC Holdings LLC now owns 353,773 shares of the technology company’s stock valued at $87,969,000 after buying an additional 1,196 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of International Business Machines by 22.0% during the 1st quarter. Meeder Asset Management Inc. now owns 455 shares of the technology company’s stock valued at $113,000 after buying an additional 82 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in International Business Machines by 13.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 19,909 shares of the technology company’s stock worth $4,951,000 after acquiring an additional 2,395 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE IBM opened at $252.88 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $235.02 billion, a price-to-earnings ratio of 41.05, a price-to-earnings-growth ratio of 4.02 and a beta of 0.69. International Business Machines Corporation has a twelve month low of $181.81 and a twelve month high of $296.16. The business has a 50 day simple moving average of $277.37 and a 200-day simple moving average of $256.88.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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 firm’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Morgan Stanley lowered their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.75.

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.