Handelsbanken Fonder AB Sells 10,621 Shares of International Business Machines Co. (NYSE:IBM)

Handelsbanken Fonder AB cut its holdings in International Business Machines Co. (NYSE:IBM) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,121 shares of the technology company’s stock after selling 10,621 shares during the quarter. Handelsbanken Fonder AB’s holdings in International Business Machines were worth $85,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Vision Financial Markets LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $31,000. Rialto Wealth Management LLC bought a new stake in International Business Machines in the 4th quarter worth about $35,000. Tacita Capital Inc raised its position in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company’s stock worth $42,000 after buying an additional 122 shares during the last quarter. Measured Risk Portfolios Inc. bought a new position in International Business Machines during the 4th quarter valued at about $43,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of International Business Machines during the 4th quarter valued at about $43,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. UBS Group reiterated a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Royal Bank of Canada increased their price target on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, Oppenheimer started coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $250.31.

International Business Machines Trading Up 1.2%

Shares of IBM stock opened at $272.13 on Tuesday. 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 fifty day simple moving average of $248.62 and a two-hundred day simple moving average of $242.46. The firm has a market capitalization of $252.92 billion, a PE ratio of 42.45, a PEG ratio of 5.81 and a beta of 0.66. International Business Machines Co. has a 52-week low of $166.81 and a 52-week high of $275.26.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the company earned $1.68 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.47%. International Business Machines’s payout ratio is currently 115.66%.

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.