BI Asset Management Fondsmaeglerselskab A S Sells 97,655 Shares of International Business Machines Corporation $IBM

BI Asset Management Fondsmaeglerselskab A S lessened its position in International Business Machines Corporation (NYSE:IBM) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 290,198 shares of the technology company’s stock after selling 97,655 shares during the period. International Business Machines comprises 0.8% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 22nd largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in International Business Machines were worth $72,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of International Business Machines in the first quarter worth approximately $161,000. Legacy Financial Advisors Inc. lifted its stake in shares of International Business Machines by 7.3% in the first quarter. Legacy Financial Advisors Inc. now owns 7,992 shares of the technology company’s stock worth $1,987,000 after buying an additional 543 shares in the last quarter. bLong Financial LLC lifted its stake in shares of International Business Machines by 0.9% in the first quarter. bLong Financial LLC now owns 6,227 shares of the technology company’s stock worth $1,548,000 after buying an additional 55 shares in the last quarter. Colonial Trust Advisors raised its holdings in shares of International Business Machines by 14.9% during the first quarter. Colonial Trust Advisors now owns 1,189 shares of the technology company’s stock valued at $296,000 after purchasing an additional 154 shares during the last quarter. Finally, Bank OZK raised its holdings in shares of International Business Machines by 24.2% during the first quarter. Bank OZK now owns 10,556 shares of the technology company’s stock valued at $2,625,000 after purchasing an additional 2,058 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $239.39 on Tuesday. The firm has a fifty day moving average price of $272.63 and a 200-day moving average price of $258.55. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market cap of $222.49 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $193.71 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 earnings per share. Equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IBM has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Wedbush boosted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 20th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. UBS Group boosted their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a report on Thursday, July 24th. Finally, Morgan Stanley decreased their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.75.

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.