Danske Bank A S Sells 13,292 Shares of International Business Machines Corporation $IBM

Key Points

• Danske Bank reduced its IBM stake by 2.3%, selling 13,292 shares in the third quarter; it retained 554,960 shares valued at about $122.1 million.
• IBM reported quarterly adjusted earnings of $2.95 per share, beating estimates of $2.85, while revenue of $17.1 billion also topped forecasts and rose 4.7% year over year.
• Analysts give IBM a consensus “Moderate Buy” rating and an average price target of $266.88. The company declared a quarterly dividend of $1.69 per share, equivalent to a 2.7% yield.

Danske Bank A S decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 554,960 shares of the technology company's stock after selling 13,292 shares during the period. Danske Bank A S owned about 0.06% of International Business Machines worth $122,052,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IBM. MSH Capital Advisors LLC boosted its stake in shares of International Business Machines by 84.1% in the third quarter. MSH Capital Advisors LLC now owns 4,843 shares of the technology company's stock worth $1,079,000 after acquiring an additional 2,212 shares during the last quarter. Cornerstone Advisory LLC increased its position in shares of International Business Machines by 3.1% during the third quarter. Cornerstone Advisory LLC now owns 4,536 shares of the technology company's stock worth $998,000 after purchasing an additional 136 shares in the last quarter. Wellington Grp LLC raised its stake in International Business Machines by 4.1% in the 3rd quarter. Wellington Grp LLC now owns 1,889 shares of the technology company's stock valued at $415,000 after purchasing an additional 75 shares during the last quarter. Bernicke Wealth Management Ltd. acquired a new position in International Business Machines in the 3rd quarter valued at $213,000. Finally, Channel Wealth LLC raised its stake in International Business Machines by 14.0% in the 3rd quarter. Channel Wealth LLC now owns 2,324 shares of the technology company's stock valued at $511,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

More International Business Machines News

These are some of the IBM news items that stood out recently:

• Positive Sentiment: IBM and Microsoft launched Imagine Enterprise, an AI-agent platform designed for regulated industries, with governance, security and compliance built into workflows. The partnership strengthens IBM’s enterprise AI offering, although the revenue impact is not yet specified. Microsoft and IBM launch enterprise AI agent platform
• Neutral Sentiment: A report projects the managed learning services market will grow to $14.65 billion by 2030 and names IBM among providers scaling AI-focused learning. This points to a potential opportunity, but IBM’s expected share is not given. Global managed learning services market report
• Negative Sentiment: A report says IBM plans to end visa and green-card sponsorship for some roles in its largest business unit. If implemented broadly, the change could make recruiting or retaining specialized talent more difficult; the article’s details are limited. IBM to end visa and green-card sponsorship for some roles

International Business Machines Trading Up 1.0%

Shares of IBM traded up $2.53 during mid-day trading on Friday, reaching $247.20. The stock had a trading volume of 2,667,291 shares, compared to its average volume of 5,073,837. International Business Machines Corporation has a 52-week low of $199.19 and a 52-week high of $332.46. The firm has a market cap of $233.63 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 2.41 and a beta of 0.78. The business's fifty day moving average is $238.06 and its 200 day moving average is $247.43. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.85 and a quick ratio of 0.80.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, October 21st. The technology company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.10. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $16.82 billion. International Business Machines had a net margin of 15.99% and a return on equity of 34.37%. International Business Machines's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 earnings per share. On average, sell-side analysts predict that International Business Machines Corporation will post 12.42 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $1.69 per share. The ex-dividend date is Tuesday, November 10th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines's dividend payout ratio (DPR) is currently 57.63%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Craig Hallum initiated coverage on shares of International Business Machines in a research note on Wednesday, August 19th. They set a "buy" rating on the stock. Yorkville Ives assumed coverage on shares of International Business Machines in a research report on Monday, October 5th. They issued an "outperform" rating and a $275.00 target price for the company. Stifel Nicolaus increased their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, October 22nd. Barclays raised their price target on shares of International Business Machines from $262.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Finally, Evercore restated an "outperform" rating on shares of International Business Machines in a research report on Friday, November 6th. Nineteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and an average price target of $266.88.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of International Business Machines stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice president owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology company that provides software, consulting, infrastructure and related services to businesses and public-sector organizations. Its offerings include hybrid cloud and artificial intelligence solutions, enterprise software, IT consulting, and systems such as IBM Z mainframes and Power servers. IBM also develops technologies in areas including data management, automation, cybersecurity and quantum computing. Its consulting teams help clients design, build and manage technology systems and business processes.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.