International Business Machines Corporation (NYSE:IBM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 741,046 shares of the technology company's stock after selling 53,628 shares during the quarter. New York State Teachers Retirement System owned 0.08% of International Business Machines worth $184,268,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IBM. Brighton Jones LLC grew its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the period. Fisher Asset Management LLC grew its position in International Business Machines by 18.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,292 shares of the technology company's stock worth $4,021,000 after buying an additional 2,872 shares during the period. Capital Wealth Planning LLC grew its position in International Business Machines by 3.9% during the fourth quarter. Capital Wealth Planning LLC now owns 2,072,893 shares of the technology company's stock worth $455,684,000 after buying an additional 78,198 shares during the period. Maia Wealth LLC grew its position in International Business Machines by 20.8% during the fourth quarter. Maia Wealth LLC now owns 1,608 shares of the technology company's stock worth $360,000 after buying an additional 277 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in International Business Machines by 21.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,962 shares of the technology company's stock worth $2,194,000 after buying an additional 1,765 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM opened at $289.69 on Monday. 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 company has a market capitalization of $269.24 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 6.08 and a beta of 0.66. The company's 50 day simple moving average is $262.93 and its 200 day simple moving average is $247.77. International Business Machines Corporation has a 1 year low of $173.38 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $14.54 billion for 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 prior year, the firm posted $1.68 earnings per share. On average, sell-side analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.32%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBM shares. Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Bank of America upped their target price 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, June 18th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Morgan Stanley reduced their price target 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $253.75.

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.

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