Providence Capital Advisors LLC Sells 7,408 Shares of International Business Machines Corporation (NYSE:IBM)

Providence Capital Advisors LLC decreased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 42.0% during the first quarter, HoldingsChannel reports. The firm owned 10,238 shares of the technology company’s stock after selling 7,408 shares during the quarter. Providence Capital Advisors LLC’s holdings in International Business Machines were worth $2,546,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IBM. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares in the last quarter. MSH Capital Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter worth about $470,000. Gratus Wealth Advisors LLC increased its stake in shares of International Business Machines by 72.6% in the 4th quarter. Gratus Wealth Advisors LLC now owns 5,762 shares of the technology company’s stock worth $1,267,000 after acquiring an additional 2,423 shares in the last quarter. First Commonwealth Financial Corp PA bought a new position in shares of International Business Machines in the 4th quarter worth about $290,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of International Business Machines in the 4th quarter worth about $154,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IBM shares. Morgan Stanley decreased their price target on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. UBS Group raised their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

International Business Machines Price Performance

IBM opened at $237.31 on Friday. 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 stock 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’s 50-day simple moving average is $273.87 and its two-hundred day simple moving average is $258.36. International Business Machines Corporation has a 52-week low of $192.86 and a 52-week high of $296.16.

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

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.