High Falls Advisors Inc Takes $234,000 Position in International Business Machines Corporation (NYSE:IBM)

High Falls Advisors Inc purchased a new position in International Business Machines Corporation (NYSE:IBM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 942 shares of the technology company’s stock, valued at approximately $234,000.

A number of other large investors have also recently bought and sold shares of IBM. Tacita Capital Inc raised its holdings in International Business Machines by 20.8% during the first quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock worth $58,000 after purchasing an additional 40 shares in the last quarter. Dimensional Fund Advisors LP grew its position in International Business Machines by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,108,455 shares of the technology company’s stock worth $1,270,022,000 after purchasing an additional 24,790 shares in the last quarter. Horizon Investments LLC grew its position in International Business Machines by 1.7% during the 1st quarter. Horizon Investments LLC now owns 28,315 shares of the technology company’s stock worth $6,994,000 after purchasing an additional 467 shares in the last quarter. Seaview Investment Managers LLC acquired a new position in shares of International Business Machines in the first quarter worth $287,000. Finally, Trivium Point Advisory LLC increased its stake in shares of International Business Machines by 17.4% in the first quarter. Trivium Point Advisory LLC now owns 10,057 shares of the technology company’s stock worth $2,501,000 after acquiring an additional 1,488 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.1%

Shares of NYSE IBM opened at $237.31 on Friday. The company’s 50 day simple moving average is $273.87 and its 200 day simple moving average is $258.36. International Business Machines Corporation has a fifty-two week low of $192.86 and a fifty-two week high of $296.16. The firm has a market capitalization of $220.56 billion, a P/E ratio of 38.52, a P/E/G ratio of 3.70 and a beta of 0.69. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average price target of $268.75.

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.