International Business Machines Co. (NYSE:IBM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in shares of International Business Machines Co. (NYSE:IBM) by 7.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 64,172 shares of the technology company’s stock after selling 5,051 shares during the quarter. Kentucky Retirement Systems’ holdings in International Business Machines were worth $14,187,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. M&G Plc acquired a new position in International Business Machines in the first quarter valued at $16,329,000. TIAA Trust National Association lifted its position in International Business Machines by 3.6% in the first quarter. TIAA Trust National Association now owns 99,745 shares of the technology company’s stock valued at $19,047,000 after purchasing an additional 3,436 shares during the period. Acadian Asset Management LLC boosted its holdings in International Business Machines by 75.0% in the 1st quarter. Acadian Asset Management LLC now owns 871,924 shares of the technology company’s stock valued at $166,475,000 after purchasing an additional 373,555 shares in the last quarter. Patten & Patten Inc. TN increased its position in International Business Machines by 7.7% during the 1st quarter. Patten & Patten Inc. TN now owns 6,572 shares of the technology company’s stock worth $1,255,000 after purchasing an additional 468 shares during the period. Finally, Edgestream Partners L.P. raised its stake in shares of International Business Machines by 119.6% during the 1st quarter. Edgestream Partners L.P. now owns 9,127 shares of the technology company’s stock worth $1,743,000 after buying an additional 4,971 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America upped their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

International Business Machines Trading Down 1.9 %

Shares of IBM opened at $204.99 on Friday. The company has a market capitalization of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $152.13 and a fifty-two week high of $237.37. The stock has a fifty day moving average of $218.79 and a two-hundred day moving average of $193.48.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts forecast that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

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.