International Business Machines Corporation $IBM Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in International Business Machines Corporation (NYSE:IBM) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,108,498 shares of the technology company’s stock after selling 8,388 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of International Business Machines worth $268,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC grew its position in shares of International Business Machines by 1.4% in the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after acquiring an additional 33 shares in the last quarter. Foster Group Inc. raised its position in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock valued at $742,000 after acquiring an additional 33 shares in the last quarter. New Covenant Trust Company N.A. raised its position in shares of International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after acquiring an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. lifted its stake in International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock worth $798,000 after purchasing an additional 33 shares during the last quarter. Finally, Adamsbrown Wealth Consultants LLC boosted its holdings in International Business Machines by 4.3% in the fourth quarter. Adamsbrown Wealth Consultants LLC now owns 818 shares of the technology company’s stock worth $242,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $270.00 target price on shares of International Business Machines in a report on Tuesday. Roth Capital reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Susquehanna began coverage on shares of International Business Machines in a research report on Friday, July 10th. They set a “neutral” rating and a $303.00 price objective for the company. Wall Street Zen cut shares of International Business Machines from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research note on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.68.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Potential upside from AI, cloud, cybersecurity, and consulting demand, which some analysts still expect to support future revenue growth.
• Neutral Sentiment: IBM’s expanded quantum-computing collaboration with Singapore’s military, which could be strategically positive but is unlikely to move near-term results by itself. IBM (IBM) Stock Declines Despite Singapore Military Quantum Computing Partnership Expansion
• Neutral Sentiment: Investor attention ahead of the full Q2 earnings report, with traders watching for management’s commentary on pipeline strength, software growth, and dividend durability. IBM to Report Full Q2 Results After its Historic Stock Crash – Here’s What Investors Will Watch
• Negative Sentiment: Legal investigations from shareholder-rights firms following the guidance cut and stock plunge, which can keep sentiment weak and increase headline risk. International Business Machines Corporation (IBM) Securities Investigation Notice – Levi & Korsinsky
• Negative Sentiment: Concerns that IBM’s recent earnings scare may indicate weaker execution and pressure on the company’s dividend and growth story. After Its Earnings Scare, Is IBM’s Dividend Still Safe?

International Business Machines Price Performance

NYSE IBM opened at $210.44 on Wednesday. The company has a 50-day moving average price of $263.44 and a two-hundred day moving average price of $262.05. International Business Machines Corporation has a 52 week low of $204.44 and a 52 week high of $332.46. The stock has a market cap of $197.79 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. Analysts forecast that International Business Machines Corporation will post 12.21 EPS for the current year.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.