International Business Machines Corporation $IBM Shares Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC raised its position in shares of International Business Machines Corporation (NYSE:IBM) by 90.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,849 shares of the technology company’s stock after acquiring an additional 1,833 shares during the quarter. Fortis Capital Advisors LLC’s holdings in International Business Machines were worth $1,086,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares in the last quarter. State Street Corp grew its holdings in shares of International Business Machines by 0.3% during the second quarter. State Street Corp now owns 54,536,963 shares of the technology company’s stock worth $16,076,406,000 after buying an additional 147,721 shares in the last quarter. Geode Capital Management LLC raised its position in shares of International Business Machines by 1.9% in the second quarter. Geode Capital Management LLC now owns 21,936,235 shares of the technology company’s stock valued at $6,444,527,000 after buying an additional 400,131 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of International Business Machines by 3.4% in the second quarter. Legal & General Group Plc now owns 7,126,503 shares of the technology company’s stock worth $2,100,751,000 after buying an additional 234,318 shares in the last quarter. Finally, Norges Bank acquired a new position in International Business Machines during the second quarter worth about $2,011,122,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM stock opened at $296.56 on Tuesday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The stock has a market cap of $277.20 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.70. The business has a fifty day moving average of $302.11 and a two-hundred day moving average of $282.65.

Analyst Upgrades and Downgrades

A number of analysts have commented on IBM shares. Royal Bank Of Canada increased their price objective on shares of International Business Machines from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Jefferies Financial Group raised International Business Machines from a “hold” rating to a “buy” rating and increased their price target for the company from $300.00 to $360.00 in a report on Monday, January 5th. UBS Group reissued a “sell” rating on shares of International Business Machines in a research note on Tuesday, December 9th. Morgan Stanley cut their target price on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on International Business Machines from $290.00 to $312.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $306.86.

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.