International Business Machines Corporation $IBM Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 33.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,735 shares of the technology company’s stock after buying an additional 2,437 shares during the quarter. Belpointe Asset Management LLC’s holdings in International Business Machines were worth $2,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Trinity Legacy Partners LLC purchased a new position in International Business Machines in the second quarter worth $203,000. Sivia Capital Partners LLC increased its holdings in shares of International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after purchasing an additional 186 shares in the last quarter. Elser Financial Planning Inc purchased a new position in International Business Machines in the second quarter valued at about $254,000. Finally, Smith Anglin Financial LLC increased its stake in International Business Machines by 0.6% in the 2nd quarter. Smith Anglin Financial LLC now owns 9,701 shares of the technology company’s stock valued at $2,860,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IBM shares. BMO Capital Markets raised their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $290.00 to $312.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Oppenheimer initiated coverage on International Business Machines in a report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective on the stock. Finally, UBS Group reissued a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $306.86.

International Business Machines Price Performance

Shares of NYSE IBM opened at $294.07 on Wednesday. The company has a market capitalization of $274.88 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.87 and a beta of 0.70. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The business has a 50 day simple moving average of $302.19 and a 200-day simple moving average of $282.72. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97.

About International Business Machines

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.