International Business Machines Corporation (NYSE:IBM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,163 shares of the technology company's stock after selling 39,411 shares during the period. International Business Machines makes up approximately 0.7% of Retirement Systems of Alabama's investment portfolio, making the stock its 24th biggest holding. Retirement Systems of Alabama owned 0.07% of International Business Machines worth $167,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock worth $20,189,023,000 after buying an additional 1,539,888 shares during the period. Geode Capital Management LLC lifted its stake in shares of International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after buying an additional 427,499 shares during the period. Capital World Investors lifted its stake in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock worth $2,384,275,000 after buying an additional 1,704,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of International Business Machines by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,112,092 shares of the technology company's stock worth $1,783,281,000 after buying an additional 722,582 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. KGI Securities set a $242.00 target price on shares of International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Morgan Stanley reduced 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 reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $252.19.

International Business Machines Stock Up 0.0%

IBM opened at $283.15 on Friday. The stock has a market capitalization of $263.16 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 5.95 and a beta of 0.66. The company has a fifty day moving average of $256.81 and a two-hundred day moving average of $245.20. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a fifty-two week low of $170.41 and a fifty-two week high of $286.91.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 earnings per share. On average, research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend 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.

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