KLP Kapitalforvaltning AS Boosts Holdings in International Business Machines Corporation (NYSE:IBM)

KLP Kapitalforvaltning AS boosted its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 431,830 shares of the technology company's stock after purchasing an additional 2,800 shares during the quarter. International Business Machines comprises about 0.5% of KLP Kapitalforvaltning AS's holdings, making the stock its 28th biggest position. KLP Kapitalforvaltning AS's holdings in International Business Machines were worth $107,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Wealth Dimensions Group Ltd. raised its position in International Business Machines by 1.0% in the fourth 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 raised its position in 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 worth $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC raised its position in International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company's stock worth $875,000 after acquiring an additional 42 shares during the period. Titleist Asset Management LLC raised its position in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after acquiring an additional 43 shares during the period. Finally, Range Financial Group LLC raised its position 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. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 0.5%

Shares of International Business Machines stock traded down $1.31 during trading on Friday, hitting $259.20. The company's stock had a trading volume of 4,967,305 shares, compared to its average volume of 4,618,371. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a fifty day simple moving average of $277.83 and a two-hundred day simple moving average of $255.57. The company has a market capitalization of $240.90 billion, a PE ratio of 42.11, a P/E/G ratio of 6.01 and a beta of 0.69. International Business Machines Corporation has a 52 week low of $181.81 and a 52 week high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 38.09%. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period last year, the business earned $2.43 EPS. International Business Machines's quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.59%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 109.09%.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Royal Bank Of Canada boosted their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. 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. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Wedbush boosted their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Finally, Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines currently has an average 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.