KLP Kapitalforvaltning AS Acquires New Shares in International Business Machines Co. (NYSE:IBM)

KLP Kapitalforvaltning AS purchased a new stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 429,030 shares of the technology company's stock, valued at approximately $94,314,000. International Business Machines makes up 0.4% of KLP Kapitalforvaltning AS's investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $242,000. Brady Martz Wealth Solutions LLC bought a new stake 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 in the 4th quarter valued at $373,000. Truist Financial Corp grew its holdings in shares of International Business Machines by 6.5% during the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company's stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in International Business Machines by 6.5% in the 4th 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 period. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IBM shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of 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, StockNews.com cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $231.44.

Remove Ads

International Business Machines Stock Up 1.2 %

IBM traded up $2.95 during trading on Monday, reaching $246.82. The stock had a trading volume of 1,300,137 shares, compared to its average volume of 4,790,597. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $228.87 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 5.81 and a beta of 0.74. The stock's 50 day moving average is $246.77 and its two-hundred day moving average is $230.09. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.71%. International Business Machines's payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

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.