Belpointe Asset Management LLC Raises Stock Position in International Business Machines Corporation $IBM

Belpointe Asset Management LLC boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 33.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,735 shares of the technology company’s stock after acquiring an additional 2,437 shares during the quarter. Belpointe Asset Management LLC’s holdings in International Business Machines were worth $2,747,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Family CFO Inc bought a new position in shares of International Business Machines during the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new stake in International Business Machines during the 2nd quarter valued at $27,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of International Business Machines in the third quarter valued at about $28,000. Copia Wealth Management raised its holdings in shares of International Business Machines by 57.6% in the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock valued at $40,000 after purchasing an additional 49 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID raised its stake in International Business Machines by 48.5% in the second quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock worth $43,000 after buying an additional 48 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.8%

Shares of IBM opened at $294.07 on Wednesday. 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 fifty day simple moving average of $302.19 and a two-hundred day simple moving average of $282.72. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a market capitalization of $274.88 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 2.87 and a beta of 0.70.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Bank of America upped their target price on International Business Machines from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $290.00 to $312.00 and gave the company a “neutral” rating in a report on Wednesday, January 21st. Finally, Evercore ISI upped their price objective on International Business Machines from $315.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.