Evernest Financial Advisors LLC Raises Position in International Business Machines Corporation (NYSE:IBM)

Evernest Financial Advisors LLC lifted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 15.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,037 shares of the technology company’s stock after acquiring an additional 269 shares during the quarter. Evernest Financial Advisors LLC’s holdings in International Business Machines were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Capital World Investors increased its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. GAMMA Investing LLC grew its position in shares of International Business Machines by 29,564.2% during the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Northern Trust Corp increased its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in International Business Machines in the fourth quarter valued at approximately $302,564,000. Finally, Vanguard Group Inc. lifted its stake in International Business Machines by 1.4% in the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on IBM shares. UBS Group increased their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research report on Thursday, July 24th. Stifel Nicolaus increased their target price on International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Morgan Stanley decreased their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Melius Research upgraded International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Finally, KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and an average target price of $268.75.

International Business Machines Stock Up 0.7%

IBM stock opened at $252.52 on Thursday. The company has a market cap of $234.69 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69. The company has a fifty day moving average price of $276.66 and a 200 day moving average price of $257.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines Corporation has a 12 month low of $186.70 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $16.58 billion. During the same period in the previous year, the business posted $2.43 earnings per share. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.