Handelsbanken Fonder AB Cuts Stock Position in International Business Machines Co. (NYSE:IBM)

Handelsbanken Fonder AB cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,121 shares of the technology company’s stock after selling 10,621 shares during the quarter. Handelsbanken Fonder AB’s holdings in International Business Machines were worth $85,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in International Business Machines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the period. Geode Capital Management LLC raised its position in shares of International Business Machines by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after purchasing an additional 427,499 shares during the period. Capital World Investors raised its position in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in International Business Machines by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company’s stock worth $1,783,281,000 after buying an additional 722,582 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.2%

IBM opened at $272.13 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $275.26. The stock has a market cap of $252.92 billion, a PE ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66. The business has a 50 day moving average of $248.62 and a 200-day moving average of $242.46.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 earnings per share. Equities research analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.47%. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is presently 115.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IBM shares. BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. Bank of America upped their price target on International Business Machines from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup restated an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $250.31.

About International Business Machines

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.