DnB Asset Management AS Buys 3,877 Shares of International Business Machines Co. (NYSE:IBM)

DnB Asset Management AS increased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,098 shares of the technology company's stock after buying an additional 3,877 shares during the quarter. DnB Asset Management AS's holdings in International Business Machines were worth $58,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. Blue Zone Wealth Advisors LLC purchased a new position in International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC purchased a new stake in shares of International Business Machines during the fourth quarter valued at approximately $373,000. Truist Financial Corp lifted its holdings in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock worth $178,296,000 after acquiring an additional 49,591 shares during the period. Finally, Nordea Investment Management AB boosted its position in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company's stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an "outperform" rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $231.44.

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Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

International Business Machines Price Performance

International Business Machines stock traded down $2.38 during midday trading on Friday, hitting $243.83. 3,125,152 shares of the company's stock were exchanged, compared to its average volume of 4,089,823. The company has a market cap of $226.10 billion, a P/E ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a 50-day moving average price of $249.51 and a two-hundred day moving average price of $231.47. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

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.