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

Retirement Systems of Alabama lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 713,362 shares of the technology company’s stock after selling 63,045 shares during the quarter. International Business Machines comprises about 0.6% of Retirement Systems of Alabama’s holdings, making the stock its 25th largest position. Retirement Systems of Alabama owned approximately 0.08% of International Business Machines worth $157,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines during the third quarter worth $5,117,000. Aljian Capital Management LLC purchased a new position in International Business Machines in the third quarter worth $611,000. Finally, Focused Wealth Management Inc boosted its position in shares of International Business Machines by 52.2% during the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $232.52 on Friday. International Business Machines Co. has a 1-year low of $157.88 and a 1-year high of $239.35. The stock has a market cap of $215.00 billion, a P/E ratio of 33.81, a PEG ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm has a 50-day moving average of $222.57 and a two-hundred day moving average of $201.12.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. On average, research analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBM. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. UBS Group boosted their price target on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, DZ Bank cut 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $208.12.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

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.