Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 3,918 Shares of International Business Machines Co. (NYSE:IBM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 196,607 shares of the technology company’s stock after selling 3,918 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in International Business Machines were worth $43,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its position in International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company’s stock worth $1,465,223,000 after purchasing an additional 126,547 shares during the last quarter. FMR LLC lifted its stake in International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Raymond James Financial Inc. bought a new position in International Business Machines during the fourth quarter valued at $592,746,000. Finally, Holocene Advisors LP purchased a new stake in International Business Machines in the third quarter worth $573,306,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. BMO Capital Markets increased their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Oppenheimer initiated coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Price Performance

International Business Machines stock opened at $252.54 on Thursday. The business has a 50-day simple moving average of $245.88 and a 200 day simple moving average of $229.33. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market cap of $234.17 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 5.81 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.65%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Activity at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

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.