Skandinaviska Enskilda Banken AB publ Sells 7,379 Shares of International Business Machines Corporation $IBM

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,895 shares of the technology company’s stock after selling 7,379 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in International Business Machines were worth $109,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Winnow Wealth LLC purchased a new position in International Business Machines during the second quarter valued at $27,000. Mountain Hill Investment Partners Corp. bought a new position in shares of International Business Machines during the 3rd quarter valued at about $28,000. Trifecta Capital Advisors LLC grew its position in shares of International Business Machines by 129.1% during the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. Legacy Wealth Managment LLC ID grew its position in shares of International Business Machines by 48.5% during the second quarter. Legacy Wealth Managment LLC ID now owns 147 shares of the technology company’s stock valued at $43,000 after purchasing an additional 48 shares in the last quarter. Finally, Davis Capital Management bought a new stake in shares of International Business Machines in the third quarter worth about $54,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wedbush increased their price target on International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Oppenheimer set a $380.00 price objective on International Business Machines and gave the stock an “outperform” rating in a report on Thursday, January 29th. Stifel Nicolaus raised their target price on shares of International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Jefferies Financial Group boosted their price target on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.07.

Insider Transactions at International Business Machines

In related news, Director David N. Farr bought 1,000 shares of International Business Machines stock in a transaction dated Friday, January 30th. The shares were acquired at an average cost of $304.00 per share, with a total value of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

International Business Machines Trading Up 1.1%

IBM opened at $262.33 on Tuesday. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The stock has a market cap of $245.21 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.63 and a beta of 0.69. The stock’s 50 day moving average price is $298.30 and its 200-day moving average price is $284.26.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.33 by $0.19. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the prior year, the company posted $3.92 EPS. International Business Machines’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.