Kentucky Retirement Systems Insurance Trust Fund Sells 2,356 Shares of International Business Machines Co. (NYSE:IBM)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,273 shares of the technology company’s stock after selling 2,356 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in International Business Machines were worth $6,030,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ellenbecker Investment Group increased its position in International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the period. Goldstein Advisors LLC increased its stake in shares of International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the period. Sollinda Capital Management LLC lifted its holdings in shares of International Business Machines by 3.7% in the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after buying an additional 49 shares during the period. Lansing Street Advisors boosted its position in shares of International Business Machines by 3.4% during the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after purchasing an additional 49 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its position in International Business Machines by 0.7% during the third quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock worth $1,579,000 after buying an additional 49 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM opened at $204.99 on Friday. International Business Machines Co. has a 52-week low of $152.13 and a 52-week high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $189.54 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 4.74 and a beta of 0.71. The business’s 50 day moving average is $218.79 and its two-hundred day moving average is $193.48.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. Analysts forecast that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IBM shares. BMO Capital Markets lifted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

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.