International Business Machines Corporation (NYSE:IBM) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 26.9% during the 1st quarter, Holdings Channel reports. The firm owned 192,281 shares of the technology company’s stock after selling 70,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in International Business Machines were worth $47,813,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IBM. Christopher J. Hasenberg Inc acquired a new stake in shares of International Business Machines during the first quarter worth about $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the first quarter worth approximately $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter worth approximately $31,000. Measured Risk Portfolios Inc. purchased a new position in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Park Square Financial Group LLC purchased a new position in International Business Machines in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IBM shares. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America dropped their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, July 24th. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Stifel Nicolaus increased their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.75.

International Business Machines Price Performance

International Business Machines stock opened at $240.24 on Thursday. International Business Machines Corporation has a one year low of $190.73 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The business has a fifty day moving average of $274.46 and a two-hundred day moving average of $258.27. The company has a market cap of $223.28 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 3.62 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. During the same quarter last year, the business posted $2.43 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

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.