DNB Asset Management AS Sells 4,234 Shares of International Business Machines Co. (NYSE:IBM)

DNB Asset Management AS trimmed its stake in shares of International Business Machines Co. (NYSE:IBM – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,131 shares of the technology company’s stock after selling 4,234 shares during the quarter. DNB Asset Management AS’s holdings in International Business Machines were worth $34,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $36,000. McClarren Financial Advisors Inc. bought a new stake in shares of International Business Machines in the 3rd quarter worth approximately $38,000. Heritage Wealth Management LLC bought a new stake in shares of International Business Machines in the 2nd quarter worth approximately $47,000. Ten Capital Wealth Advisors LLC grew its position in shares of International Business Machines by 352.5% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 362 shares of the technology company’s stock worth $43,000 after buying an additional 282 shares during the last quarter. Finally, Bray Capital Advisors grew its position in shares of International Business Machines by 33.3% in the 3rd quarter. Bray Capital Advisors now owns 404 shares of the technology company’s stock worth $48,000 after buying an additional 101 shares during the last quarter. 55.90% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.8 %

NYSE:IBM traded down $1.01 during trading hours on Friday, reaching $123.69. 37,400,167 shares of the company traded hands, compared to its average volume of 4,251,237. The business’s 50-day moving average price is $134.65 and its two-hundred day moving average price is $135.11. The stock has a market capitalization of $112.20 billion, a P/E ratio of 70.28, a P/E/G ratio of 3.22 and a beta of 0.85. International Business Machines Co. has a 1 year low of $115.54 and a 1 year high of $153.21. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 2.10.

International Business Machines (NYSE:IBM – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.61 by ($0.01). The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.38 billion. International Business Machines had a net margin of 2.71% and a return on equity of 41.24%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.35 EPS. Analysts predict that International Business Machines Co. will post 9.46 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 10th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend was Thursday, February 9th. International Business Machines’s dividend payout ratio is currently 375.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IBM shares. BMO Capital Markets lifted their price objective on International Business Machines from $148.00 to $155.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. Evercore ISI lifted their price objective on International Business Machines from $135.00 to $150.00 in a research report on Tuesday, January 17th. Edward Jones cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Morgan Stanley lowered their target price on International Business Machines from $148.00 to $143.00 in a research note on Thursday, January 26th. Finally, Stifel Nicolaus raised their target price on International Business Machines from $140.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $142.73.

International Business Machines Profile

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International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other.