International Business Machines Corporation $IBM Shares Acquired by Fortis Capital Management LLC

Fortis Capital Management LLC raised its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 72.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,618 shares of the technology company’s stock after acquiring an additional 2,772 shares during the quarter. Fortis Capital Management LLC’s holdings in International Business Machines were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. CVA Family Office LLC grew its position in shares of International Business Machines by 1.4% in the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after purchasing an additional 33 shares during the last quarter. Foster Group Inc. raised its position in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. lifted its stake in International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after buying an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. grew its holdings in International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after buying an additional 33 shares during the last quarter. Finally, Adamsbrown Wealth Consultants LLC grew its holdings in International Business Machines by 4.3% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 818 shares of the technology company’s stock valued at $242,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Potential upside from AI, cloud, cybersecurity, and consulting demand, which some analysts still expect to support future revenue growth.
• Neutral Sentiment: IBM’s expanded quantum-computing collaboration with Singapore’s military, which could be strategically positive but is unlikely to move near-term results by itself. IBM (IBM) Stock Declines Despite Singapore Military Quantum Computing Partnership Expansion
• Neutral Sentiment: Investor attention ahead of the full Q2 earnings report, with traders watching for management’s commentary on pipeline strength, software growth, and dividend durability. IBM to Report Full Q2 Results After its Historic Stock Crash – Here’s What Investors Will Watch
• Negative Sentiment: Legal investigations from shareholder-rights firms following the guidance cut and stock plunge, which can keep sentiment weak and increase headline risk. International Business Machines Corporation (IBM) Securities Investigation Notice – Levi & Korsinsky
• Negative Sentiment: Concerns that IBM’s recent earnings scare may indicate weaker execution and pressure on the company’s dividend and growth story. After Its Earnings Scare, Is IBM’s Dividend Still Safe?

International Business Machines Trading Down 1.2%

Shares of International Business Machines stock opened at $210.44 on Wednesday. International Business Machines Corporation has a fifty-two week low of $204.44 and a fifty-two week high of $332.46. The business’s fifty day moving average is $263.44 and its two-hundred day moving average is $262.05. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The firm has a market cap of $197.79 billion, a PE ratio of 18.61, a P/E/G ratio of 2.30 and a beta of 0.68.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. Analysts anticipate that International Business Machines Corporation will post 12.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBM. Citigroup cut their price target on International Business Machines from $375.00 to $255.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings lowered International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. DZ Bank upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a research report on Friday, April 24th. KeyCorp downgraded shares of International Business Machines to a “sector weight” rating in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Moderate Buy” and a consensus price target of $278.68.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.