State of Alaska Department of Revenue Has $30.75 Million Stake in International Business Machines Corporation $IBM

Key Points

• The State of Alaska Department of Revenue reduced its stake in International Business Machines Corporation (IBM) by 3.7%, owning 104,305 shares valued at approximately $30.75 million at the end of the last quarter.
• IBM reported earnings of $2.80 per share for the quarter, exceeding analysts' expectations, with a revenue of $16.98 billion, up 7.7% year-over-year.
• Recent analyst reports have set new price targets for IBM, with BMO Capital Markets increasing theirs from $260 to $300, while maintaining a "market perform" rating.

State of Alaska Department of Revenue lowered its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,305 shares of the technology company's stock after selling 3,980 shares during the quarter. State of Alaska Department of Revenue's holdings in International Business Machines were worth $30,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Brighton Jones LLC increased its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. 111 Capital bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $292,000. Mascagni Wealth Management Inc. bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $43,000. Wellington Management Group LLP raised its stake in International Business Machines by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 231,021 shares of the technology company's stock valued at $50,785,000 after acquiring an additional 3,206 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in International Business Machines by 0.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 8,795 shares of the technology company's stock valued at $2,187,000 after acquiring an additional 70 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Price Performance

IBM opened at $284.72 on Friday. The stock has a market capitalization of $264.62 billion, a P/E ratio of 46.22, a PEG ratio of 4.33 and a beta of 0.71. International Business Machines Corporation has a 12-month low of $203.51 and a 12-month high of $296.16. The stock has a 50-day moving average price of $254.07 and a 200-day moving average price of $257.97. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share 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 business 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 EPS. The business's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date was Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.4%. International Business Machines's payout ratio is 109.09%.

Analysts Set New Price Targets

IBM has been the topic of several analyst reports. BMO Capital Markets increased their target price on International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Bank of America cut their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Wall Street Zen raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wedbush lifted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Royal Bank Of Canada boosted their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average price target of $275.00.

International Business Machines Company 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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