Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,267 Shares of International Business Machines Corporation $IBM

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its IBM stake by 2.8% in the fourth quarter, selling 6,267 shares and leaving it with 217,425 shares valued at about $64.4 million.
• IBM is drawing attention for major growth initiatives, including a more than $10 billion quantum computing investment plan and a $5 billion open-source security effort with Red Hat called Project Lightwell.
• IBM recently beat quarterly expectations with $1.91 EPS on $15.92 billion in revenue, and it also raised its quarterly dividend to $1.69 per share.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,425 shares of the technology company's stock after selling 6,267 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in International Business Machines were worth $64,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of International Business Machines by 424.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company's stock worth $77,234,000 after buying an additional 211,040 shares during the last quarter. GLOBALT Investments LLC GA boosted its stake in shares of International Business Machines by 19.1% in the 4th quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company's stock worth $5,417,000 after buying an additional 2,930 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in shares of International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company's stock worth $280,439,000 after buying an additional 32,072 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of International Business Machines by 30.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company's stock worth $3,887,000 after buying an additional 3,029 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its stake in shares of International Business Machines by 51.7% in the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company's stock worth $32,278,000 after buying an additional 38,973 shares during the last quarter. Institutional investors own 58.96% of the company's stock.

Key Headlines Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A '$1 Trillion Value Creation Engine' — And It's Spending $15 Billion To Get There

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IBM. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Citigroup assumed coverage on International Business Machines in a research note on Friday, April 10th. They issued a "buy" rating and a $285.00 price target on the stock. BMO Capital Markets lowered their target price on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lowered their target price on International Business Machines from $317.00 to $283.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Finally, HSBC upgraded International Business Machines from a "reduce" rating to a "hold" rating and lifted their target price for the company from $218.00 to $231.00 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $294.41.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $298.26 on Friday. The stock's 50-day simple moving average is $240.16 and its 200-day simple moving average is $270.98. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $324.90. The company has a market capitalization of $280.33 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.08 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The business's revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a $1.69 dividend. The ex-dividend date is Friday, May 8th. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. International Business Machines's dividend payout ratio (DPR) is presently 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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