Eagle Strategies LLC Sells 132 Shares of 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, according to its most recent 13F filing with the SEC. The firm owned 2,266 shares of the technology company’s stock after selling 132 shares during the period. 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 institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the period. Legal & General Group Plc increased its stake in International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares during the period. Ameriprise Financial Inc. lifted its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after acquiring an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.2 %

IBM opened at $210.43 on Wednesday. The company has a fifty day moving average of $216.23 and a two-hundred day moving average of $190.85. The stock has a market capitalization of $193.30 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a fifty-two week low of $142.58 and a fifty-two week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company earned $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group raised their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Bernstein Bank increased their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their target price on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $208.12.

About International Business Machines

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.