International Business Machines Co. (NYSE:IBM) Shares Acquired by Golden State Equity Partners

Golden State Equity Partners grew its position in International Business Machines Co. (NYSE:IBM) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,045 shares of the technology company’s stock after buying an additional 316 shares during the quarter. Golden State Equity Partners’ holdings in International Business Machines were worth $2,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines in the 2nd quarter valued at about $7,160,000. Smith Thornton Advisors LLC acquired a new stake in International Business Machines during the 2nd quarter valued at $702,000. Retirement Planning Group LLC purchased a new position in shares of International Business Machines during the 3rd quarter valued at $618,000. GAMMA Investing LLC increased its position in International Business Machines by 42.4% during the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company’s stock worth $1,621,000 after buying an additional 2,788 shares during the last quarter. Finally, Anderson Hoagland & Co. acquired a new stake in International Business Machines in the 3rd quarter valued at approximately $4,050,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IBM. The Goldman Sachs Group raised their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

IBM traded down $1.53 during trading hours on Wednesday, hitting $208.90. The company’s stock had a trading volume of 266,158 shares, compared to its average volume of 4,235,349. International Business Machines Co. has a fifty-two week low of $142.59 and a fifty-two week high of $237.37. The company has a 50-day simple moving average of $216.23 and a 200 day simple moving average of $190.85. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The firm has a market capitalization of $191.90 billion, a PE ratio of 23.83, a PEG ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Co. will post 10.13 EPS for the current year.

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.