International Business Machines Corporation (NYSE:IBM) Stock Position Reduced by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC decreased its stake in International Business Machines Corporation (NYSE:IBM) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,462 shares of the technology company’s stock after selling 1,191 shares during the period. International Business Machines accounts for 0.5% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 28th largest position. Longfellow Investment Management Co. LLC’s holdings in International Business Machines were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wealth Dimensions Group Ltd. boosted its holdings in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock worth $873,000 after acquiring an additional 40 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of International Business Machines by 0.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock worth $1,195,000 after acquiring an additional 42 shares in the last quarter. DMC Group LLC boosted its holdings in shares of International Business Machines by 1.2% in the 1st quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock worth $875,000 after acquiring an additional 42 shares in the last quarter. Range Financial Group LLC boosted its holdings in shares of International Business Machines by 0.6% in the 1st quarter. Range Financial Group LLC now owns 7,350 shares of the technology company’s stock worth $1,828,000 after acquiring an additional 43 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its holdings in shares of International Business Machines by 1.7% in the 1st quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company’s stock worth $658,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IBM. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Bank of America reduced their price objective on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

International Business Machines Price Performance

Shares of NYSE IBM opened at $241.88 on Monday. The firm has a market cap of $224.80 billion, a PE ratio of 39.27, a PEG ratio of 3.74 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 1-year low of $189.00 and a 1-year high of $296.16. The company has a fifty day moving average price of $276.14 and a 200 day moving average price of $258.48.

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, 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 period in the prior year, the business posted $2.43 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

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.