Avanza Fonder AB Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

Avanza Fonder AB reduced its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,118 shares of the technology company's stock after selling 8,567 shares during the period. Avanza Fonder AB's holdings in International Business Machines were worth $14,528,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in shares of International Business Machines during the fourth quarter worth $902,000. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Wealthstar Advisors LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth $694,000. Stone Summit Wealth LLC increased its position in shares of International Business Machines by 21.2% during the fourth quarter. Stone Summit Wealth LLC now owns 1,446 shares of the technology company's stock worth $318,000 after acquiring an additional 253 shares during the period. Finally, Angeles Wealth Management LLC increased its position in shares of International Business Machines by 18.1% during the fourth quarter. Angeles Wealth Management LLC now owns 3,556 shares of the technology company's stock worth $782,000 after acquiring an additional 545 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

Shares of IBM traded down $4.20 during mid-day trading on Friday, reaching $276.84. 3,242,911 shares of the company's stock were exchanged, compared to its average volume of 4,232,590. 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 company has a 50-day simple moving average of $251.46 and a two-hundred day simple moving average of $243.34. International Business Machines Co. has a 52-week low of $167.23 and a 52-week high of $283.06. The company has a market cap of $257.29 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same period last year, the company posted $1.68 EPS. The company's revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. UBS Group reissued a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Bank of America increased their target price on International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a report on Monday. Finally, Wedbush reaffirmed an "outperform" rating and set a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.31.

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.