DnB Asset Management AS Sells 73,308 Shares of International Business Machines Corporation $IBM

by · The Cerbat Gem

DnB Asset Management AS reduced its position in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 27.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 192,790 shares of the technology company’s stock after selling 73,308 shares during the quarter. DnB Asset Management AS’s holdings in International Business Machines were worth $47,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the first quarter valued at about $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines during the 1st quarter valued at about $28,000. Dagco Inc. bought a new position in International Business Machines during the 1st quarter valued at approximately $31,000. Measured Risk Portfolios Inc. purchased a new stake in International Business Machines in the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.0%

Shares of NYSE:IBM opened at $243.92 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock has a fifty day simple moving average of $262.80 and a two-hundred day simple moving average of $257.31. International Business Machines Corporation has a 12-month low of $199.34 and a 12-month high of $296.16. The stock has a market capitalization of $226.70 billion, a price-to-earnings ratio of 39.60, a PEG ratio of 3.75 and a beta of 0.71.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.65 by $0.15. The company had revenue of $16.98 billion for 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%. International Business Machines’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a $1.68 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.8%. International Business Machines’s payout ratio is 109.09%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBM shares. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Royal Bank Of Canada raised their target price on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Erste Group Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Wedbush increased their target price on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $268.75.

Get Our Latest Analysis on International Business Machines

International Business Machines Profile

(Free Report)

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.

Further Reading

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