International Business Machines Corporation (NYSE:IBM) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,225 shares of the technology company's stock after selling 24,754 shares during the period. AMF Tjanstepension AB's holdings in International Business Machines were worth $10,019,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Wealth Dimensions Group Ltd. lifted its stake in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock worth $873,000 after acquiring an additional 40 shares during the period. Pallas Capital Advisors LLC lifted its stake in shares of International Business Machines by 0.9% in the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after purchasing an additional 42 shares during the period. DMC Group LLC lifted its stake in shares of International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock valued at $875,000 after purchasing an additional 42 shares during the period. Range Financial Group LLC lifted its stake in shares of International Business Machines by 0.6% in the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after purchasing an additional 43 shares during the period. Finally, Private Wealth Partners LLC lifted its stake in shares of International Business Machines by 1.7% in the first quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock valued at $658,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $249.91 on Friday. The company has a market cap of $232.26 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 3.89 and a beta of 0.69. International Business Machines Corporation has a 12 month low of $187.00 and a 12 month high of $296.16. 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 company has a 50-day simple moving average of $276.48 and a 200-day simple moving average of $257.89.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 earnings per share. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley reduced 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 research note on Thursday, April 24th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. BMO Capital Markets raised 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 research note on Friday, July 18th. Finally, The Goldman Sachs Group raised their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.