Allianz SE Purchases 3,006 Shares of International Business Machines Corporation (NYSE:IBM)

Allianz SE raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 24.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,231 shares of the technology company’s stock after acquiring an additional 3,006 shares during the quarter. Allianz SE’s holdings in International Business Machines were worth $3,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of International Business Machines by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 231,021 shares of the technology company’s stock valued at $50,785,000 after purchasing an additional 3,206 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in International Business Machines by 173.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 260,784 shares of the technology company’s stock worth $57,328,000 after purchasing an additional 165,255 shares during the period. KCM Investment Advisors LLC grew its holdings in shares of International Business Machines by 2.2% in the fourth quarter. KCM Investment Advisors LLC now owns 8,916 shares of the technology company’s stock worth $1,960,000 after purchasing an additional 189 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in International Business Machines by 0.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,361,646 shares of the technology company’s stock worth $299,331,000 after acquiring an additional 3,573 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $250.03 on Monday. The company has a market capitalization of $232.38 billion, a PE ratio of 40.59, a P/E/G ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. 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 company has a 50-day simple moving average of $277.20 and a two-hundred day simple moving average of $257.61.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.43 EPS. Research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IBM shares. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Wedbush boosted their target price on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. UBS Group increased their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research report on Thursday, July 24th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $268.75.

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.