8,259,103 Shares in International Business Machines Corporation $IBM Bought by Norges Bank

Norges Bank bought a new position in shares of International Business Machines Corporation (NYSE:IBM) during the 4th quarter, HoldingsChannel reports. The firm bought 8,259,103 shares of the technology company’s stock, valued at approximately $2,446,429,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new position in International Business Machines during the 4th quarter worth $25,000. Basepoint Wealth LLC purchased a new position in International Business Machines during the 4th quarter worth $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines during the 4th quarter valued at about $28,000. SWAN Capital LLC purchased a new stake in International Business Machines during the 3rd quarter valued at about $28,000. Finally, DecisionPoint Financial LLC grew its stake in International Business Machines by 1,666.7% during the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IBM has been the topic of several research analyst reports. UBS Group upgraded International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target on the stock in a research note on Wednesday, February 25th. Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Wedbush reiterated an “outperform” rating and set a $320.00 price target on shares of International Business Machines in a research note on Friday. Oppenheimer dropped their price target on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, BMO Capital Markets dropped their price target on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $294.41.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A ‘$1 Trillion Value Creation Engine’ — And It’s Spending $15 Billion To Get There

International Business Machines Stock Performance

Shares of IBM stock opened at $298.26 on Friday. The stock has a market cap of $280.33 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.58. The business has a 50-day simple moving average of $240.16 and a 200-day simple moving average of $270.98. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, equities analysts expect that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a $1.69 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend is Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines’s payout ratio is presently 59.77%.

International Business Machines 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.