State of Alaska Department of Revenue Increases Stock Holdings in International Business Machines Corporation (NYSE:IBM)

State of Alaska Department of Revenue grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 108,285 shares of the technology company's stock after acquiring an additional 2,865 shares during the period. State of Alaska Department of Revenue's holdings in International Business Machines were worth $26,926,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IBM. Treasurer of the State of North Carolina lifted its holdings in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Mufg Securities Americas Inc. bought a new position in shares of International Business Machines during the fourth quarter worth about $3,000,000. Magnolia Private Wealth LLC acquired a new position in shares of International Business Machines in the first quarter worth approximately $239,000. QRG Capital Management Inc. boosted its holdings in International Business Machines by 7.5% in the fourth quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company's stock valued at $33,118,000 after acquiring an additional 10,467 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in International Business Machines by 0.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock valued at $35,172,000 after purchasing an additional 1,058 shares during the period. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley dropped their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Wedbush restated an "outperform" rating and set a $300.00 target price on shares of International Business Machines in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $252.19.

International Business Machines Stock Up 0.0%

NYSE:IBM traded up $0.10 on Thursday, hitting $283.15. The stock had a trading volume of 3,531,800 shares, compared to its average volume of 4,234,994. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines Corporation has a 52 week low of $170.41 and a 52 week high of $286.91. The business's fifty day moving average is $256.81 and its 200 day moving average is $245.20. The company has a market cap of $263.16 billion, a PE ratio of 48.74, a P/E/G ratio of 5.95 and a beta of 0.66.

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

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. International Business Machines's payout ratio is presently 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.