Andra AP fonden Sells 3,000 Shares of International Business Machines Co. (NYSE:IBM)

Andra AP fonden trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 212,400 shares of the technology company’s stock after selling 3,000 shares during the period. International Business Machines makes up about 0.6% of Andra AP fonden’s investment portfolio, making the stock its 29th largest position. Andra AP fonden’s holdings in International Business Machines were worth $36,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares in the last quarter. Norges Bank bought a new stake in shares of International Business Machines in the fourth quarter worth approximately $1,019,009,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the period. LSV Asset Management increased its holdings in International Business Machines by 4.8% during the first quarter. LSV Asset Management now owns 1,788,047 shares of the technology company’s stock valued at $341,445,000 after buying an additional 81,887 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in International Business Machines by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 1,503,981 shares of the technology company’s stock worth $287,200,000 after purchasing an additional 17,715 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on IBM. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Stifel Nicolaus increased their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. BMO Capital Markets lifted their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group increased their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.93.

International Business Machines Trading Up 1.4 %

NYSE IBM opened at $203.53 on Tuesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market cap of $187.48 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 4.47 and a beta of 0.70. The firm has a 50 day simple moving average of $190.09 and a 200-day simple moving average of $182.66. International Business Machines Co. has a one year low of $135.87 and a one year high of $205.95.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

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.