BI Asset Management Fondsmaeglerselskab A S Lowers Stake in International Business Machines Corporation $IBM

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of International Business Machines Corporation (NYSE:IBM) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 290,198 shares of the technology company’s stock after selling 97,655 shares during the quarter. International Business Machines accounts for 0.8% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 22nd biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in International Business Machines were worth $72,161,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new position in International Business Machines in the 1st quarter worth $27,000. SSA Swiss Advisors AG purchased a new position in shares of International Business Machines in the first quarter valued at about $28,000. Dagco Inc. purchased a new position in shares of International Business Machines in the first quarter valued at about $31,000. Measured Risk Portfolios Inc. purchased a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. Finally, Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.1%

NYSE:IBM opened at $239.39 on Tuesday. International Business Machines Corporation has a one year low of $193.71 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company’s 50-day simple moving average is $272.63 and its 200 day simple moving average is $258.55. The firm has a market capitalization of $222.49 billion, a P/E ratio of 38.86, a PEG ratio of 3.69 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. During the same quarter in the previous year, the firm posted $2.43 earnings per share. International Business Machines’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Bank of America decreased their price objective on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.75.

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.