China Universal Asset Management Co. Ltd. Raises Stake in International Business Machines Co. (NYSE:IBM)

China Universal Asset Management Co. Ltd. lifted its position in shares of International Business Machines Co. (NYSE:IBM) by 132.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,301 shares of the technology company’s stock after buying an additional 1,881 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in International Business Machines were worth $730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. abrdn plc grew its holdings in International Business Machines by 2.8% in the third quarter. abrdn plc now owns 1,476,726 shares of the technology company’s stock valued at $325,242,000 after purchasing an additional 40,345 shares during the period. Pallas Capital Advisors LLC grew its holdings in International Business Machines by 2.3% in the third quarter. Pallas Capital Advisors LLC now owns 4,610 shares of the technology company’s stock valued at $1,007,000 after purchasing an additional 104 shares during the period. Hunter Associates Investment Management LLC grew its holdings in International Business Machines by 20.5% in the third quarter. Hunter Associates Investment Management LLC now owns 13,125 shares of the technology company’s stock valued at $2,901,000 after purchasing an additional 2,230 shares during the period. Autumn Glory Partners LLC grew its holdings in International Business Machines by 138.4% in the third quarter. Autumn Glory Partners LLC now owns 6,293 shares of the technology company’s stock valued at $1,391,000 after purchasing an additional 3,653 shares during the period. Finally, Morton Brown Family Wealth LLC grew its holdings in International Business Machines by 57.7% in the third quarter. Morton Brown Family Wealth LLC now owns 336 shares of the technology company’s stock valued at $74,000 after purchasing an additional 123 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.2 %

IBM opened at $210.43 on Wednesday. The stock has a market capitalization of $193.30 billion, a PE ratio of 23.83, a P/E/G ratio of 4.84 and a beta of 0.70. The firm’s fifty day moving average price is $216.23 and its 200 day moving average price is $190.85. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 12-month low of $142.58 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines Co. will post 10.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research note on Wednesday, October 2nd. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $208.12.

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.