International Business Machines Co. (NYSE:IBM) Stock Holdings Trimmed by Patriot Financial Group Insurance Agency LLC

by · The Markets Daily

Patriot Financial Group Insurance Agency LLC lessened its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 6.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,122 shares of the technology company’s stock after selling 307 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in International Business Machines were worth $911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines in the 2nd quarter valued at $7,160,000. Smith Thornton Advisors LLC purchased a new stake in shares of International Business Machines in the second quarter worth approximately $702,000. Retirement Planning Group LLC acquired a new stake in shares of International Business Machines during the third quarter worth approximately $618,000. GAMMA Investing LLC grew its position in International Business Machines by 42.4% during the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock valued at $1,621,000 after purchasing an additional 2,788 shares in the last quarter. Finally, Anderson Hoagland & Co. acquired a new position in International Business Machines in the 3rd quarter valued at approximately $4,050,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. Jefferies Financial Group boosted their price target 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. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Bernstein Bank increased their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $208.12.

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International Business Machines Stock Performance

Shares of NYSE IBM opened at $212.90 on Tuesday. International Business Machines Co. has a one year low of $142.58 and a one year high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The business has a fifty day simple moving average of $215.94 and a 200 day simple moving average of $190.65. The firm has a market capitalization of $195.57 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 10.13 EPS for the current year.

International Business Machines Company Profile

(Free Report)

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.

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