International Business Machines Corporation (NYSE:IBM) Holdings Lifted by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 2.9% in the 1st quarter, HoldingsChannel reports. The fund owned 16,794 shares of the technology company’s stock after acquiring an additional 477 shares during the period. International Business Machines accounts for approximately 1.7% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 17th largest holding. Commonwealth Retirement Investments LLC’s holdings in International Business Machines were worth $4,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines in the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Park Square Financial Group LLC bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Up 0.8%

Shares of NYSE:IBM opened at $251.96 on Tuesday. 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 market cap of $234.17 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16. The firm has a 50 day simple moving average of $277.06 and a 200 day simple moving average of $257.80.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 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 prior year, the firm earned $2.43 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on IBM shares. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a report on Friday, July 18th. One investment 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.75.

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.