International Business Machines Co. (NYSE:IBM) Position Lessened by Forbes J M & Co. LLP

Forbes J M & Co. LLP trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,659 shares of the technology company’s stock after selling 517 shares during the period. International Business Machines comprises approximately 1.4% of Forbes J M & Co. LLP’s portfolio, making the stock its 24th biggest holding. Forbes J M & Co. LLP’s holdings in International Business Machines were worth $14,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. FPC Investment Advisory Inc. bought a new position in International Business Machines during the first quarter valued at about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines in the second quarter worth about $36,000. Wolff Wiese Magana LLC increased its stake in shares of International Business Machines by 37.0% in the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of International Business Machines by 47.2% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock worth $53,000 after purchasing an additional 77 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. UBS Group lifted their price objective on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Trading Down 0.6 %

IBM stock traded down $1.24 during trading on Monday, hitting $213.43. The company had a trading volume of 862,072 shares, compared to its average volume of 4,229,652. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm has a 50-day moving average price of $215.58 and a 200-day moving average price of $190.46. International Business Machines Co. has a 12 month low of $142.58 and a 12 month high of $237.37. The stock has a market cap of $196.60 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, analysts predict that International Business Machines Co. will post 10.13 earnings per share for the current 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.