Maryland State Retirement & Pension System Sells 6,551 Shares of International Business Machines Corporation (NYSE:IBM)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in International Business Machines Corporation (IBM) by 13.2%, selling 6,551 shares during the first quarter.
• International Business Machines reported $2.80 earnings per share for the last quarter, exceeding expectations and reflecting a 7.7% year-over-year revenue increase.
• Analysts have generally rated IBM with a "Moderate Buy," with an average target price of $268.75 and notable upgrades from various firms including Goldman Sachs.

Maryland State Retirement & Pension System decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,901 shares of the technology company's stock after selling 6,551 shares during the quarter. Maryland State Retirement & Pension System's holdings in International Business Machines were worth $10,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Christopher J. Hasenberg Inc bought a new stake in International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG bought a new stake in International Business Machines in the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. bought a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Park Square Financial Group LLC bought a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Finally, Mascagni Wealth Management Inc. bought a new stake in International Business Machines in the fourth quarter valued at approximately $43,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 0.7%

NYSE IBM opened at $252.52 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 52 week low of $186.70 and a 52 week high of $296.16. The stock's 50-day moving average price is $276.66 and its 200-day moving average price is $257.71. The company has a market capitalization of $234.69 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 3.87 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter last year, the business posted $2.43 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

Analyst Ratings Changes

IBM has been the topic of several research analyst reports. Citigroup reissued an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. The Goldman Sachs Group boosted their target price on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada upped their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $268.75.

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.

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