Integrated Advisors Network LLC Has $3.69 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Integrated Advisors Network LLC cut its holdings in International Business Machines Co. (NYSE:IBM) by 49.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,699 shares of the technology company’s stock after selling 16,564 shares during the quarter. Integrated Advisors Network LLC’s holdings in International Business Machines were worth $3,692,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Miracle Mile Advisors LLC lifted its stake in International Business Machines by 5.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,281 shares of the technology company’s stock valued at $627,000 after purchasing an additional 165 shares during the last quarter. Valley National Advisers Inc. grew its position in International Business Machines by 3.7% during the 1st quarter. Valley National Advisers Inc. now owns 3,272 shares of the technology company’s stock worth $624,000 after acquiring an additional 118 shares during the last quarter. Kovack Advisors Inc. increased its holdings in International Business Machines by 31.7% in the 1st quarter. Kovack Advisors Inc. now owns 8,652 shares of the technology company’s stock worth $1,652,000 after purchasing an additional 2,084 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in International Business Machines by 81.9% in the first quarter. Cornerstone Wealth Management LLC now owns 19,872 shares of the technology company’s stock valued at $3,795,000 after purchasing an additional 8,948 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of International Business Machines by 11.4% during the first quarter. First Trust Direct Indexing L.P. now owns 24,383 shares of the technology company’s stock valued at $4,656,000 after purchasing an additional 2,499 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IBM shares. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus raised their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $210.43 on Wednesday. The firm has a 50 day moving average of $216.23 and a 200-day moving average of $190.85. The company has a market cap of $193.30 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 52 week low of $142.58 and a 52 week high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts forecast 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.