DnB Asset Management AS Has $58.50 Million Position in International Business Machines Co. (NYSE:IBM)

DnB Asset Management AS boosted its holdings in International Business Machines Co. (NYSE:IBM) by 1.5% in the fourth quarter, according to the company in 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 purchasing an additional 3,877 shares during the period. DnB Asset Management AS’s holdings in International Business Machines were worth $58,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc boosted its position in shares of International Business Machines by 0.6% during the fourth quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after buying an additional 40 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in International Business Machines by 0.7% during the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after acquiring an additional 43 shares in the last quarter. Callan Capital LLC boosted its holdings in International Business Machines by 2.4% during the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after acquiring an additional 44 shares during the last quarter. Marks Group Wealth Management Inc grew its stake in shares of International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after acquiring an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. raised its holdings in shares of International Business Machines by 1.9% in the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock valued at $522,000 after purchasing an additional 45 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IBM shares. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. UBS Group boosted their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Oppenheimer started coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $231.44.

Insiders Place Their Bets

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

International Business Machines Stock Down 1.6 %

IBM opened at $246.30 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business’s fifty day simple moving average is $249.12 and its 200 day simple moving average is $231.01. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market cap of $228.38 billion, a PE ratio of 38.42, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm 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. This represents a $6.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, February 10th. International Business Machines’s payout ratio is presently 104.21%.

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.