McAdam LLC Sells 152 Shares of International Business Machines Co. (NYSE:IBM)

McAdam LLC reduced its position in International Business Machines Co. (NYSE:IBM) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,690 shares of the technology company’s stock after selling 152 shares during the quarter. McAdam LLC’s holdings in International Business Machines were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 15,439.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after buying an additional 2,636,386 shares during the period. Morgan Stanley increased its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after purchasing an additional 1,919,490 shares during the period. California Public Employees Retirement System increased its stake in International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock worth $890,322,000 after purchasing an additional 871,247 shares during the period. Bank of New York Mellon Corp lifted its position in International Business Machines by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after purchasing an additional 807,357 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of International Business Machines by 4.2% during the third quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after purchasing an additional 404,948 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several analyst reports. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Morgan Stanley decreased their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Wednesday, April 17th. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $184.08.

International Business Machines Stock Up 0.2 %

International Business Machines stock opened at $167.51 on Tuesday. The firm has a market cap of $153.56 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 4.08 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The stock has a fifty day simple moving average of $187.19 and a two-hundred day simple moving average of $170.72.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that International Business Machines Co. will post 9.99 EPS for the current fiscal 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.