Avanza Fonder AB Invests $14.66 Million in International Business Machines Co. (NYSE:IBM)

Avanza Fonder AB purchased a new stake in International Business Machines Co. (NYSE:IBM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 66,685 shares of the technology company's stock, valued at approximately $14,659,000.

A number of other institutional investors also recently modified their holdings of the business. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock worth $453,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC increased its holdings in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC grew its position 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 valued at $298,000 after acquiring an additional 47 shares during the period. Forza Wealth Management LLC increased its stake in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company's stock worth $2,891,000 after purchasing an additional 47 shares during the last quarter. Finally, Sollinda Capital Management LLC raised its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock worth $301,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company's stock.

International Business Machines Price Performance

Shares of IBM stock traded up $2.07 on Friday, reaching $224.73. The company's stock had a trading volume of 5,481,679 shares, compared to its average volume of 3,432,236. The company has a market capitalization of $207.80 billion, a P/E ratio of 32.71, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The stock's 50 day simple moving average is $222.65 and its 200-day simple moving average is $210.31. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.03. The firm 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 company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. As a group, equities analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines's payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a report on Monday, October 21st. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research note on Thursday, October 24th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $215.81.

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.