First Western Trust Bank Sells 165 Shares of International Business Machines Corporation (NYSE:IBM)

First Western Trust Bank reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 4.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,602 shares of the technology company’s stock after selling 165 shares during the period. First Western Trust Bank’s holdings in International Business Machines were worth $896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the period. FIL Ltd boosted its holdings in International Business Machines by 7.8% in the 4th quarter. FIL Ltd now owns 2,493 shares of the technology company’s stock worth $548,000 after buying an additional 180 shares during the period. Colonial Trust Advisors boosted its holdings in International Business Machines by 21.6% in the 4th quarter. Colonial Trust Advisors now owns 1,035 shares of the technology company’s stock worth $228,000 after buying an additional 184 shares during the period. First Foundation Advisors boosted its holdings in International Business Machines by 2.6% in the 4th quarter. First Foundation Advisors now owns 2,941 shares of the technology company’s stock worth $647,000 after buying an additional 75 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in International Business Machines by 1.7% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 16,892 shares of the technology company’s stock worth $3,713,000 after buying an additional 276 shares during the period. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Morgan Stanley lowered their target price 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. UBS Group increased their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. Finally, Citigroup reiterated an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $241.88 on Friday. The stock has a market cap of $224.80 billion, a PE ratio of 39.27, a PEG ratio of 3.86 and a beta of 0.69. The company’s fifty day moving average is $276.14 and its 200 day moving average is $258.01. International Business Machines Corporation has a 52 week low of $189.00 and a 52 week 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.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The company had revenue of $16.98 billion for the quarter, compared to analysts’ expectations 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 was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.43 EPS. Research analysts anticipate that International Business Machines Corporation will post 10.78 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.