bLong Financial LLC Boosts Holdings in International Business Machines Corporation $IBM

bLong Financial LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,227 shares of the technology company’s stock after buying an additional 55 shares during the period. International Business Machines comprises approximately 1.4% of bLong Financial LLC’s holdings, making the stock its 15th biggest holding. bLong Financial LLC’s holdings in International Business Machines were worth $1,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBM. Blue Edge Capital LLC grew its position in shares of International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after buying an additional 39 shares during the last quarter. Wealth Dimensions Group Ltd. boosted its stake in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after purchasing an additional 40 shares during the period. Tacita Capital Inc boosted its stake in International Business Machines by 20.8% during the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 40 shares during the period. Pallas Capital Advisors LLC boosted its stake in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after purchasing an additional 42 shares during the period. Finally, DMC Group LLC boosted its stake in International Business Machines by 1.2% during the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock valued at $875,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.1%

IBM stock opened at $239.39 on Tuesday. International Business Machines Corporation has a 12 month low of $193.71 and a 12 month high of $296.16. The firm has a market cap of $222.49 billion, a PE ratio of 38.86, a P/E/G ratio of 3.69 and a beta of 0.69. The firm has a 50 day simple moving average of $272.63 and a 200 day simple moving average of $258.55. 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 (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (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 business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Bank of America reduced their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.