International Business Machines Co. (NYSE:IBM) Stock Holdings Decreased by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. lowered its stake in International Business Machines Co. (NYSE:IBM) by 36.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,372 shares of the technology company’s stock after selling 10,638 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in International Business Machines were worth $4,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC raised its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of International Business Machines by 47.2% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock valued at $53,000 after acquiring an additional 77 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.7 %

Shares of NYSE IBM opened at $214.67 on Monday. International Business Machines Co. has a 52 week low of $141.58 and a 52 week high of $237.37. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The stock’s fifty day moving average is $215.58 and its 200 day moving average is $190.46. The stock has a market capitalization of $197.74 billion, a P/E ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IBM shares. UBS Group boosted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. 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 research report on Monday, September 30th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Morgan Stanley reduced their target price on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $208.12.

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.