International Business Machines Co. (NYSE:IBM) Shares Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. grew its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 45.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,723 shares of the technology company's stock after acquiring an additional 3,953 shares during the period. International Business Machines comprises approximately 1.7% of Asahi Life Asset Management CO. LTD.'s portfolio, making the stock its 17th largest position. Asahi Life Asset Management CO. LTD.'s holdings in International Business Machines were worth $2,813,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the second quarter worth $7,160,000. Smith Thornton Advisors LLC acquired a new position in International Business Machines in the second quarter valued at $702,000. Retirement Planning Group LLC acquired a new position in International Business Machines in the third quarter valued at $618,000. GAMMA Investing LLC boosted its stake in International Business Machines by 42.4% in the second quarter. GAMMA Investing LLC now owns 9,370 shares of the technology company's stock valued at $1,621,000 after acquiring an additional 2,788 shares in the last quarter. Finally, Anderson Hoagland & Co. acquired a new position in International Business Machines in the third quarter valued at $4,050,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Down 0.8 %

Shares of NYSE IBM traded down $1.76 during trading on Monday, hitting $212.91. 4,988,111 shares of the company traded hands, compared to its average volume of 4,249,489. The company has a 50-day moving average price of $215.58 and a 200-day moving average price of $190.46. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1 year low of $142.58 and a 1 year high of $237.37. The firm has a market capitalization of $195.58 billion, a P/E ratio of 24.11, a P/E/G ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $14.97 billion during the quarter, compared to analysts' expectations of $15.08 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm's revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that International Business Machines Co. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on IBM. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Friday. Stifel Nicolaus upped their price objective 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 upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Hsbc Global Res raised shares of International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Finally, UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $208.12.

International Business Machines 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.