CI Investments Inc. Has $28.63 Million Stake in International Business Machines Corporation $IBM

CI Investments Inc. boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,132 shares of the technology company’s stock after acquiring an additional 24,711 shares during the period. CI Investments Inc.’s holdings in International Business Machines were worth $28,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Family CFO Inc acquired a new position in International Business Machines during the fourth quarter valued at approximately $25,000. Basepoint Wealth LLC bought a new stake in shares of International Business Machines during the fourth quarter worth about $25,000. Portus Wealth Advisors LLC acquired a new position in International Business Machines in the 1st quarter valued at approximately $26,000. Joseph Group Capital Management acquired a new stake in International Business Machines in the fourth quarter valued at $28,000. Finally, Cornerstone Financial Management LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $28,000. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $206.03 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a fifty day simple moving average of $263.26 and a two-hundred day simple moving average of $261.42. International Business Machines Corporation has a 12 month low of $204.44 and a 12 month high of $332.46. The firm has a market capitalization of $193.64 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.48 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 earnings per share. Analysts forecast that International Business Machines Corporation will post 12.19 EPS for the current fiscal year.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM’s earnings matched Wall Street’s EPS estimate, and the company continues to emphasize AI-driven productivity, quantum computing, and strong free-cash-flow generation. IBM (IBM) Matches Q2 Earnings Estimates
• Neutral Sentiment: After the release, IBM shares saw some after-hours recovery as investors focused on long-term AI and quantum initiatives rather than the immediate headline miss. IBM just cut its outlook. Why its stock is bouncing anyway.
• Negative Sentiment: IBM lowered full-year revenue guidance and posted weaker sales than expected, with mainframe revenue notably under pressure, raising concerns about near-term growth. IBM Lowers Its Growth Outlook as Sales of Data Center Mainframes Sink 42%
• Negative Sentiment: Multiple law firms announced securities-fraud investigations following IBM’s sharp stock decline and guidance cut, adding an overhang for investors. IBM Investigated by the Portnoy Law Firm

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IBM shares. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Thursday, July 16th. Argus lowered their price objective on International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. BMO Capital Markets cut their target price on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. Jefferies Financial Group decreased their target price on International Business Machines from $320.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Wall Street Zen downgraded International Business Machines from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.68.

International Business Machines Profile

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.