Robotti Robert Takes $249,000 Position in International Business Machines Corporation (NYSE:IBM)

Robotti Robert purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000 shares of the technology company’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. GAMMA Investing LLC increased its stake in International Business Machines by 29,564.2% in the 1st 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. GQG Partners LLC purchased a new stake in International Business Machines in the 1st quarter worth $1,040,057,000. Nuveen LLC purchased a new stake in International Business Machines in the 1st quarter worth $960,386,000. Finally, Northern Trust Corp increased its stake in International Business Machines by 18.6% in the 4th 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 in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Up 2.3%

NYSE IBM opened at $240.24 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The firm’s fifty day moving average price is $274.46 and its 200 day moving average price is $258.27. The company has a market capitalization of $223.28 billion, a price-to-earnings ratio of 39.00, a price-to-earnings-growth ratio of 3.62 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $190.73 and a 12 month high of $296.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.43 EPS. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.