Pallas Capital Advisors LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Pallas Capital Advisors LLC raised its position in International Business Machines Co. (NYSE:IBM) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,610 shares of the technology company’s stock after buying an additional 104 shares during the period. Pallas Capital Advisors LLC’s holdings in International Business Machines were worth $1,007,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Vanguard Group Inc. increased its position in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after acquiring an additional 5,546,855 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its position in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBM. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group lifted their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $210.43 on Wednesday. The company has a 50 day moving average of $216.23 and a 200 day 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 stock has a market cap of $193.30 billion, a P/E ratio of 23.83, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines Co. has a 12 month low of $142.58 and a 12 month high of $237.37.

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

International Business Machines Company 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.