Steel Grove Capital Advisors LLC Has $2.24 Million Stock Holdings in International Business Machines Corporation $IBM

Steel Grove Capital Advisors LLC trimmed its holdings in International Business Machines Corporation (NYSE:IBM) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,607 shares of the technology company’s stock after selling 1,162 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in International Business Machines were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Brighton Jones LLC increased its stake in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares in the last quarter. GAMMA Investing LLC increased its stake in International Business Machines by 19.3% in the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company’s stock valued at $4,400,000 after purchasing an additional 2,862 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in International Business Machines by 2.9% in the first quarter. Flagship Harbor Advisors LLC now owns 10,544 shares of the technology company’s stock valued at $2,622,000 after purchasing an additional 295 shares in the last quarter. Chapin Davis Inc. increased its stake in International Business Machines by 9.2% in the first quarter. Chapin Davis Inc. now owns 1,170 shares of the technology company’s stock valued at $291,000 after purchasing an additional 99 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in International Business Machines by 0.5% in the first quarter. GHP Investment Advisors Inc. now owns 79,065 shares of the technology company’s stock valued at $19,660,000 after purchasing an additional 371 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 0.6%

Shares of IBM stock opened at $282.07 on Wednesday. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $301.04. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a 50-day simple moving average of $262.97 and a two-hundred day simple moving average of $262.39. 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 issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the firm posted $2.43 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBM. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Bank of America decreased their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a research report on Wednesday, October 8th. Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Sanford C. Bernstein initiated coverage on shares of International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $289.08.

International Business Machines 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.