Eagle Strategies LLC Reduces Stake in International Business Machines Co. (NYSE:IBM)

Eagle Strategies LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 5.5% during the 3rd quarter, Holdings Channel reports. The fund owned 2,266 shares of the technology company’s stock after selling 132 shares during the quarter. Eagle Strategies LLC’s holdings in International Business Machines were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC grew its stake in shares of International Business Machines by 83.5% in the 3rd quarter. Fidelis Capital Partners LLC now owns 6,256 shares of the technology company’s stock valued at $1,456,000 after buying an additional 2,846 shares during the period. Valmark Advisers Inc. grew its position in International Business Machines by 6.8% in the third quarter. Valmark Advisers Inc. now owns 4,651 shares of the technology company’s stock worth $1,028,000 after acquiring an additional 297 shares during the period. GW Henssler & Associates Ltd. increased its stake in International Business Machines by 3.7% during the third quarter. GW Henssler & Associates Ltd. now owns 1,625 shares of the technology company’s stock worth $359,000 after acquiring an additional 58 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in International Business Machines by 3.9% in the third quarter. Cutter & CO Brokerage Inc. now owns 4,541 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 170 shares during the period. Finally, True Link Financial Advisors LLC grew its holdings in shares of International Business Machines by 9.9% during the 3rd quarter. True Link Financial Advisors LLC now owns 1,835 shares of the technology company’s stock worth $406,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.2 %

IBM opened at $210.43 on Wednesday. The firm 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. International Business Machines Co. has a 52 week low of $142.58 and a 52 week high of $237.37. The business’s 50 day moving average is $216.23 and its two-hundred day moving average is $190.85. 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 (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IBM. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Thursday, October 24th. Finally, UBS Group increased their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $208.12.

International Business Machines 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.