Steel Grove Capital Advisors LLC Has $2.24 Million Stock Holdings in International Business Machines Corporation $IBM

Steel Grove Capital Advisors LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,607 shares of the technology company’s stock after selling 1,162 shares during the period. Steel Grove Capital Advisors LLC’s holdings in International Business Machines were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Family CFO Inc acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $25,000. Christopher J. Hasenberg Inc acquired a new stake in International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG acquired a new stake in International Business Machines in the first quarter valued at approximately $28,000. Highline Wealth Partners LLC boosted its position in International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in International Business Machines in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Weiss Ratings restated a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Bank of America cut their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.08.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $282.07 on Wednesday. The firm has a market cap of $262.16 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 4.36 and a beta of 0.73. The firm’s fifty day moving average is $262.97 and its 200-day moving average is $262.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the firm earned $2.43 earnings per share. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

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.