SEB Asset Management AB purchased a new position in International Business Machines Corporation (NYSE:IBM – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 262,637 shares of the technology company’s stock, valued at approximately $63,661,000.
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A number of other institutional investors have also made changes to their positions in the stock. CVA Family Office LLC boosted its holdings in International Business Machines by 1.4% during the fourth quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after buying an additional 33 shares during the last quarter. Foster Group Inc. grew its position in shares of International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after buying an additional 33 shares during the period. New Covenant Trust Company N.A. increased its stake in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock valued at $264,000 after acquiring an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. raised its position in shares of International Business Machines by 1.2% in the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after acquiring an additional 33 shares during the period. Finally, Sandbox Financial Partners LLC raised its position in shares of International Business Machines by 0.4% in the 4th quarter. Sandbox Financial Partners LLC now owns 8,969 shares of the technology company’s stock valued at $2,657,000 after acquiring an additional 34 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on IBM shares. Jefferies Financial Group started coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They set a “buy” rating for the company. Citigroup reduced their price target on shares of International Business Machines from $375.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings lowered shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Morgan Stanley upped their price objective on shares of International Business Machines from $267.00 to $293.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Bank of America lifted their target price on International Business Machines from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Fifteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.89.
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