International Business Machines Corporation (NYSE:IBM) Shares Sold by South Dakota Investment Council

South Dakota Investment Council decreased its stake in International Business Machines Corporation (NYSE:IBM - Free Report) by 24.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,468 shares of the technology company's stock after selling 2,100 shares during the quarter. South Dakota Investment Council's holdings in International Business Machines were worth $1,608,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines in the first quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines in the first quarter valued at about $45,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter valued at about $43,000. Park Place Capital Corp boosted its position in shares of International Business Machines by 42.6% during the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the period. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of International Business Machines in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a report on Thursday. Morgan Stanley decreased their target price on 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. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. Finally, Royal Bank Of Canada lifted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.75.

International Business Machines Stock Performance

NYSE IBM traded down $20.77 on Thursday, hitting $261.24. 15,053,986 shares of the company's stock were exchanged, compared to its average volume of 4,556,176. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The firm's 50-day moving average price is $277.95 and its two-hundred day moving average price is $255.30. International Business Machines Corporation has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The firm has a market cap of $242.80 billion, a price-to-earnings ratio of 44.93, a P/E/G ratio of 6.01 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 37.43% and a net margin of 8.71%. The company had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 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.