Donoghue Forlines LLC Grows Stock Holdings in International Business Machines Corporation (NYSE:IBM)
Donoghue Forlines LLC increased its stake in International Business Machines Corporation (NYSE:IBM) by 35.1% in Q1, owning 9,021 shares valued at $2.24 million. Other institutional investors also acquired stakes in IBM. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price of $268.75. IBM's stock recently opened at $241.88, down 3.3%, with a market cap of $224.80 billion. The company reported Q2 earnings of $2.80 per share, exceeding estimates, with revenue of $16.98 billion, up 7.7% year-over-year.
Donoghue Forlines LLC raised its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,021 shares of the technology company's stock after acquiring an additional 2,345 shares during the quarter. Donoghue Forlines LLC's holdings in International Business Machines were worth $2,243,000 at the end of the most recent quarter.
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Several other hedge funds and other institutional investors also recently modified their holdings of IBM. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines during the first quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in International Business Machines during the fourth quarter worth about $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines during the fourth quarter worth about $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in International Business Machines during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on IBM. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Morgan Stanley dropped their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.
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Get Our Latest Research Report on International Business Machines
International Business Machines Stock Down 3.3%
Shares of International Business Machines stock opened at $241.88 on Friday. The company has a market cap of $224.80 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.86 and a beta of 0.69. The company's 50 day moving average is $276.14 and its 200 day moving average is $258.01. International Business Machines Corporation has a twelve month low of $189.00 and a twelve month high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.
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International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates 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%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.43 earnings per share. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.
International Business Machines Company Profile
(Free Report)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.
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