State of Wisconsin Investment Board Sells 14,054 Shares of International Business Machines Corporation $IBM

Key Points

• State of Wisconsin Investment Board reduced its IBM stake by 2.8% in the fourth quarter, selling 14,054 shares and leaving it with 489,341 shares worth about $144.9 million.
• IBM reported better-than-expected quarterly results, posting EPS of $1.91 versus $1.81 expected and revenue of $15.92 billion, up 9.5% year over year.
• The company also raised its quarterly dividend to $1.69 per share, bringing the annualized payout to $6.76 and a yield of about 2.5%.

State of Wisconsin Investment Board cut its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 489,341 shares of the technology company's stock after selling 14,054 shares during the quarter. State of Wisconsin Investment Board owned 0.05% of International Business Machines worth $144,948,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Family CFO Inc acquired a new position in International Business Machines during the fourth quarter valued at approximately $25,000. Basepoint Wealth LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $25,000. Joseph Group Capital Management acquired a new position in International Business Machines during the fourth quarter valued at approximately $28,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $28,000. Finally, SWAN Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $28,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Up 0.7%

NYSE IBM opened at $270.66 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46. The company has a market cap of $254.39 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.67. The business's fifty day moving average is $250.88 and its 200 day moving average is $269.61.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Corporation will post 12.38 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. This is an increase from International Business Machines's previous quarterly dividend of $1.68. International Business Machines's dividend payout ratio is presently 59.77%.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM highlighted a new global study showing many companies are locked into AI systems they cannot easily change, which supports IBM’s pitch for AI sovereignty, governance, and enterprise continuity as AI spending grows. IBM Study: Limited Control and Rising Dependencies Leave Enterprises Exposed in the Age of AI
• Positive Sentiment: IBM’s AI/data infrastructure ambitions were reinforced by its expanded OEM deal with Cirata for Big Replicate, aimed at helping customers move and prepare large-scale data for AI workloads. Cirata Deepens IBM Alliance With OEM Deal for Symphony Data Platform
• Positive Sentiment: IBM also unveiled new Apptio capabilities for AI-powered technology-spend management, which could improve enterprise adoption of IBM software and services. Apptio Unveils Conversational Insights and New Suite of AI-Powered Capabilities
• Neutral Sentiment: Analysts continued to debate IBM’s valuation, with some articles saying the stock may still be below fair value while others framed it as a buy after its pullback. Analysts Offer Insights on Technology Companies: International Business Machines (IBM) and Interlink Electronics (LINK)
• Neutral Sentiment: IBM was also the subject of several bullish rating-upgrade and fair-value articles, suggesting Wall Street sees upside potential, but these were commentary pieces rather than new fundamental catalysts. IBM: Slow, Steady With Room For Multiple Expansion (Rating Upgrade)
• Negative Sentiment: One recent market note said IBM stock had fallen while the broader market rose, reflecting lingering concerns about momentum after the shares pulled back from earlier highs. IBM (IBM) Stock Sinks As Market Gains: Here's Why

Analyst Ratings Changes

A number of analysts have recently issued reports on IBM shares. JPMorgan Chase & Co. cut their price objective on International Business Machines from $317.00 to $283.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. HSBC upgraded International Business Machines from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $218.00 to $231.00 in a research note on Tuesday, April 28th. Wall Street Zen lowered International Business Machines from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays assumed coverage on International Business Machines in a research note on Monday, June 1st. They set an "overweight" rating and a $350.00 price objective on the stock. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of International Business Machines in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $304.17.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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