Patten Group Inc. Sells 265 Shares of International Business Machines Corporation $IBM

Patten Group Inc. lessened its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,059 shares of the technology company’s stock after selling 265 shares during the period. Patten Group Inc.’s holdings in International Business Machines were worth $2,670,000 as of its most recent filing with the SEC.

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

International Business Machines Price Performance

International Business Machines stock opened at $282.07 on Wednesday. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $301.04. The stock’s 50 day moving average is $262.97 and its 200-day moving average is $262.39. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $262.16 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 4.36 and a beta of 0.73.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IBM. UBS Group boosted their price target on International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research report on Thursday, July 24th. Morgan Stanley boosted their price target on International Business Machines from $253.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. The Goldman Sachs Group boosted their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $315.00 price target on shares of International Business Machines in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $289.08.

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.