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) in the fourth quarter, Holdings Channel.com reports. The firm purchased 429,030 shares of the technology company’s stock, valued at approximately $94,314,000. International Business Machines accounts for approximately 0.4% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 29th largest position.

A number of other hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $2,386,000. Umpqua Bank lifted its holdings in shares of International Business Machines by 9.3% during the 4th quarter. Umpqua Bank now owns 2,492 shares of the technology company’s stock worth $543,000 after acquiring an additional 211 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of International Business Machines by 9.4% during the 4th quarter. American Century Companies Inc. now owns 485,334 shares of the technology company’s stock worth $106,691,000 after acquiring an additional 41,683 shares during the last quarter. Plancorp LLC lifted its stake in International Business Machines by 1.2% in the fourth quarter. Plancorp LLC now owns 7,262 shares of the technology company’s stock worth $1,596,000 after purchasing an additional 84 shares during the last quarter. Finally, Cyrus J. Lawrence LLC lifted its stake in International Business Machines by 5.2% in the fourth quarter. Cyrus J. Lawrence LLC now owns 1,740 shares of the technology company’s stock worth $382,000 after purchasing an additional 86 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.2 %

Shares of IBM stock opened at $243.75 on Friday. The stock has a fifty day simple moving average of $246.77 and a two-hundred day simple moving average of $229.71. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The firm has a market capitalization of $226.02 billion, a PE ratio of 38.03, 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.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Jefferies Financial Group upped their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Bank of America raised their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley raised their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

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.