KLP Kapitalforvaltning AS Purchases Shares of 429,030 International Business Machines Co. (NYSE:IBM)

KLP Kapitalforvaltning AS purchased a new stake in International Business Machines Co. (NYSE:IBM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 429,030 shares of the technology company’s stock, valued at approximately $94,314,000. International Business Machines makes up about 0.4% of KLP Kapitalforvaltning AS’s holdings, making the stock its 29th biggest position.

Other institutional investors have also made changes to their positions in the company. Compass Financial Services Inc bought a new stake in shares of International Business Machines in the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines during the fourth quarter worth $31,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its holdings in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the fourth quarter worth $35,000. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IBM shares. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

Shares of NYSE IBM opened at $243.75 on Friday. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $266.45. The stock has a market cap of $226.02 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The firm’s 50-day simple moving average is $246.77 and its 200 day simple moving average is $229.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s dividend payout ratio is currently 104.21%.

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.