International Business Machines Co. (NYSE:IBM) Shares Sold by FCG Investment Co

FCG Investment Co lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,471 shares of the technology company’s stock after selling 70 shares during the quarter. FCG Investment Co’s holdings in International Business Machines were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of IBM. Trilogy Capital Inc. purchased a new stake in shares of International Business Machines during the first quarter worth approximately $434,000. LVW Advisors LLC purchased a new stake in shares of International Business Machines during the first quarter worth approximately $330,000. Chapin Davis Inc. purchased a new stake in shares of International Business Machines during the first quarter worth approximately $205,000. Miracle Mile Advisors LLC raised its position in International Business Machines by 5.3% in the first quarter. Miracle Mile Advisors LLC now owns 3,281 shares of the technology company’s stock worth $627,000 after acquiring an additional 165 shares in the last quarter. Finally, Claro Advisors LLC raised its position in International Business Machines by 6.5% in the first quarter. Claro Advisors LLC now owns 5,049 shares of the technology company’s stock worth $964,000 after acquiring an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IBM shares. UBS Group increased their price objective on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Morgan Stanley cut their price objective on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

International Business Machines stock opened at $214.79 on Monday. The stock’s 50-day moving average is $215.58 and its 200-day moving average is $190.46. The company has a market cap of $197.85 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 12 month low of $142.58 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings data 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 company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. Equities analysts anticipate that International Business Machines Co. will post 10.13 earnings per share for the current year.

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.