KLP Kapitalforvaltning AS Acquires 10,000 Shares of International Business Machines Corporation $IBM

KLP Kapitalforvaltning AS raised its holdings in International Business Machines Corporation (NYSE:IBM) by 2.3% in the second quarter, Holdings Channel.com reports. The fund owned 441,830 shares of the technology company’s stock after acquiring an additional 10,000 shares during the quarter. International Business Machines makes up about 0.6% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 25th largest position. KLP Kapitalforvaltning AS’s holdings in International Business Machines were worth $130,243,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of International Business Machines by 9.7% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,487 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 398 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in International Business Machines by 4.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,889 shares of the technology company’s stock worth $967,000 after purchasing an additional 159 shares during the last quarter. OLD National Bancorp IN boosted its position in International Business Machines by 0.5% during the first quarter. OLD National Bancorp IN now owns 12,972 shares of the technology company’s stock worth $3,226,000 after purchasing an additional 69 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in International Business Machines by 19.3% during the first quarter. Park Avenue Securities LLC now owns 23,895 shares of the technology company’s stock valued at $5,942,000 after purchasing an additional 3,871 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE:IBM opened at $289.70 on Tuesday. The firm’s 50-day moving average is $255.71 and its 200-day moving average is $259.70. The company has a market cap of $269.25 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.44 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Equities research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is presently 109.09%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Bank of America dropped their target price on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Royal Bank Of Canada boosted 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Business Machines in a research report on Saturday, September 27th. Finally, Wedbush boosted their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $284.62.

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.