Arizona State Retirement System Increases Position in International Business Machines Corporation (NYSE:IBM)

Arizona State Retirement System increased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 273,240 shares of the technology company's stock after acquiring an additional 6,118 shares during the quarter. Arizona State Retirement System's holdings in International Business Machines were worth $67,944,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in International Business Machines during the first quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines in the 1st quarter worth approximately $45,000. Park Square Financial Group LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $43,000. Park Place Capital Corp grew its holdings in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley cut their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $259.06.

International Business Machines Trading Down 1.4%

Shares of IBM traded down $4.10 during midday trading on Friday, hitting $283.33. 3,789,706 shares of the stock were exchanged, compared to its average volume of 4,240,258. The stock has a fifty day simple moving average of $273.18 and a 200 day simple moving average of $251.92. International Business Machines Corporation has a 52-week low of $178.50 and a 52-week 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 firm has a market cap of $263.33 billion, a P/E ratio of 48.77, a P/E/G ratio of 6.04 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.37%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

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.