DnB Asset Management AS Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

DnB Asset Management AS boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 266,098 shares of the technology company’s stock after acquiring an additional 3,877 shares during the quarter. DnB Asset Management AS’s holdings in International Business Machines were worth $58,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Zone Wealth Advisors LLC bought a new position in International Business Machines in the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in International Business Machines in the fourth quarter worth $373,000. Truist Financial Corp increased its stake in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 4,625 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Trading Down 1.6 %

Shares of IBM opened at $246.30 on Friday. The firm has a market cap of $228.38 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a 50 day simple moving average of $249.12 and a two-hundred day simple moving average of $231.01.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.