International Business Machines Co. (NYSE:IBM) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 12.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,118 shares of the technology company’s stock after selling 8,567 shares during the period. Avanza Fonder AB’s holdings in International Business Machines were worth $14,528,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IBM. Tallon Kerry Patrick acquired a new position in International Business Machines in the 4th quarter valued at $902,000. Brighton Jones LLC raised its holdings in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in International Business Machines in the 4th quarter valued at $694,000. Stone Summit Wealth LLC raised its holdings in International Business Machines by 21.2% in the 4th quarter. Stone Summit Wealth LLC now owns 1,446 shares of the technology company’s stock valued at $318,000 after acquiring an additional 253 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in International Business Machines by 18.1% in the 4th quarter. Angeles Wealth Management LLC now owns 3,556 shares of the technology company’s stock valued at $782,000 after acquiring an additional 545 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Up 1.2%

Shares of International Business Machines stock opened at $272.13 on Tuesday. The company has a fifty day moving average price of $248.62 and a 200 day moving average price of $242.46. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $166.81 and a twelve month high of $275.26. The stock has a market cap of $252.92 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 5.81 and a beta of 0.66.

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

International Business Machines Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group restated a “sell” rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Bank of America upped their price objective on International Business Machines from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $250.31.

International Business Machines Company 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.