Cullen Frost Bankers Inc. Has $25.24 Million Holdings in International Business Machines Corporation $IBM

Cullen Frost Bankers Inc. boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 85,629 shares of the technology company’s stock after acquiring an additional 370 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in International Business Machines were worth $25,242,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IBM. GQG Partners LLC acquired a new stake in International Business Machines in the first quarter valued at about $1,040,057,000. Nuveen LLC bought a new stake in shares of International Business Machines during the first quarter worth about $960,386,000. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of International Business Machines by 41.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company’s stock worth $787,007,000 after purchasing an additional 930,448 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of International Business Machines by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,157,846 shares of the technology company’s stock worth $1,282,550,000 after purchasing an additional 889,008 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

International Business Machines stock opened at $282.07 on Wednesday. The stock’s 50 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 current ratio of 0.91 and a quick ratio of 0.87. The firm has a market cap of $262.16 billion, a P/E ratio of 45.79, a P/E/G ratio of 4.36 and a beta of 0.73. International Business Machines Corporation has a one year low of $203.51 and a one year high of $301.04.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 earnings per share. As a group, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBM. Stifel Nicolaus boosted their price target on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Bank of America reduced their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Jefferies Financial Group boosted their price target on International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a report on Tuesday. Erste Group Bank cut International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $315.00 price target on shares of International Business Machines in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $289.08.

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.