Avanza Fonder AB Takes Position in International Business Machines Co. (NYSE:IBM)

Avanza Fonder AB purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 66,685 shares of the technology company’s stock, valued at approximately $14,659,000.

A number of other institutional investors also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group raised its position in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its stake in shares of International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its holdings in shares of International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares in the last quarter. Forza Wealth Management LLC boosted its stake in International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after buying an additional 47 shares in the last quarter. Finally, Sollinda Capital Management LLC grew its position in International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after acquiring an additional 49 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $223.88 on Friday. The company has a market cap of $207.01 billion, a P/E ratio of 32.66, a PEG ratio of 4.71 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $222.47 and a two-hundred day moving average price of $210.23. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $239.35.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

Wall Street Analyst Weigh In

IBM has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein increased their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $215.81.

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.