Teachers Retirement System of The State of Kentucky Has $50.66 Million Holdings in International Business Machines Corporation (NYSE:IBM)

Teachers Retirement System of The State of Kentucky cut its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 203,724 shares of the technology company's stock after selling 18,771 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in International Business Machines were worth $50,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MinichMacGregor Wealth Management LLC purchased a new position in International Business Machines during the 1st quarter valued at about $396,000. Treasurer of the State of North Carolina raised its holdings in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after acquiring an additional 16,592 shares during the last quarter. Alpha Cubed Investments LLC raised its stake in International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after buying an additional 2,399 shares during the last quarter. Finally, Magnolia Private Wealth LLC purchased a new stake in International Business Machines during the 1st quarter valued at $239,000. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Up 1.5%

Shares of International Business Machines stock traded up $4.13 during trading hours on Wednesday, reaching $286.09. 2,350,531 shares of the company were exchanged, compared to its average volume of 4,230,064. The firm has a market cap of $265.89 billion, a PE ratio of 49.27, a PEG ratio of 5.98 and a beta of 0.69. The stock's fifty day moving average is $276.39 and its 200 day moving average is $254.50. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines Corporation has a 1 year low of $181.81 and a 1 year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 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 the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. As a group, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.35%. International Business Machines's dividend payout ratio is currently 115.66%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IBM shares. Royal Bank Of Canada raised 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. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley dropped 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $266.19.

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.