Teachers Retirement System of The State of Kentucky Reduces Stake in International Business Machines Corporation (NYSE:IBM)

Teachers Retirement System of The State of Kentucky lowered its position in International Business Machines Corporation (NYSE:IBM) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,724 shares of the technology company’s stock after selling 18,771 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in International Business Machines were worth $50,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. boosted its position in International Business Machines by 146.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 46,675 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 27,753 shares in the last quarter. WNY Asset Management LLC boosted its position in International Business Machines by 6.6% in the 1st quarter. WNY Asset Management LLC now owns 1,946 shares of the technology company’s stock worth $484,000 after purchasing an additional 121 shares in the last quarter. Twin Capital Management Inc. boosted its position in International Business Machines by 142.8% in the 1st quarter. Twin Capital Management Inc. now owns 8,050 shares of the technology company’s stock worth $2,002,000 after purchasing an additional 4,735 shares in the last quarter. IFP Advisors Inc boosted its position in International Business Machines by 27.6% in the 1st quarter. IFP Advisors Inc now owns 29,678 shares of the technology company’s stock worth $7,380,000 after purchasing an additional 6,424 shares in the last quarter. Finally, OneAscent Financial Services LLC boosted its position in International Business Machines by 102.3% in the 1st quarter. OneAscent Financial Services LLC now owns 8,074 shares of the technology company’s stock worth $2,012,000 after purchasing an additional 4,083 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analyst Weigh In

IBM has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. BMO Capital Markets upped their price objective on International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday. The Goldman Sachs Group increased their target price on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.19.

International Business Machines Stock Up 1.4%

NYSE IBM opened at $286.04 on Friday. The business has a fifty day moving average price of $276.39 and a 200 day moving average price of $254.26. International Business Machines Corporation has a one year low of $181.81 and a one year high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $265.85 billion, a P/E ratio of 49.23, a P/E/G ratio of 6.00 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the company earned $1.68 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.