Kentucky Retirement Systems Insurance Trust Fund Sells 9,458 Shares of International Business Machines Corporation (NYSE:IBM)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 26.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,688 shares of the technology company's stock after selling 9,458 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in International Business Machines were worth $6,636,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vision Financial Markets LLC bought a new position in shares of International Business Machines in the 4th quarter worth approximately $31,000. Rialto Wealth Management LLC purchased a new stake in shares of International Business Machines in the 4th quarter worth $35,000. Tacita Capital Inc raised its holdings in International Business Machines by 174.3% in the 4th quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after purchasing an additional 122 shares during the period. Measured Risk Portfolios Inc. purchased a new position in International Business Machines during the fourth quarter valued at $43,000. Finally, Park Square Financial Group LLC bought a new stake in International Business Machines during the fourth quarter valued at about $43,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 2.1%

IBM stock traded up $5.91 during mid-day trading on Monday, reaching $286.88. The company had a trading volume of 1,393,104 shares, compared to its average volume of 4,610,892. The company has a market capitalization of $266.63 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66. The firm has a 50 day moving average of $257.71 and a 200 day moving average of $245.71. International Business Machines Corporation has a 12 month low of $170.41 and a 12 month high of $286.91. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97.

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

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines has an average rating of "Hold" and a consensus price target 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.