Swedbank AB Sells 29,678 Shares of International Business Machines Co. (NYSE:IBM)

Swedbank AB cut its holdings in International Business Machines Co. (NYSE:IBM) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,000,716 shares of the technology company’s stock after selling 29,678 shares during the period. Swedbank AB’s holdings in International Business Machines were worth $219,987,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the period. Holocene Advisors LP bought a new position in shares of International Business Machines during the third quarter valued at approximately $573,306,000. State Street Corp lifted its holdings in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV grew its stake in shares of International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after buying an additional 800,930 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after buying an additional 536,785 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

International Business Machines Stock Performance

IBM stock traded up $0.81 during trading on Wednesday, hitting $226.47. 543,384 shares of the company traded hands, compared to its average volume of 3,500,632. The company has a market cap of $209.40 billion, a PE ratio of 32.95, a P/E/G ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $239.35. The stock’s 50-day simple moving average is $224.95 and its 200 day simple moving average is $213.44. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBM. Morgan Stanley decreased their target price on shares of International Business Machines from $222.00 to $217.00 and set an “equal weight” rating for the company in a report on Tuesday. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $220.40.

About International Business Machines

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.