Kentucky Retirement Systems Sells 872 Shares of International Business Machines Co. (NYSE:IBM)

Kentucky Retirement Systems decreased its position in International Business Machines Co. (NYSE:IBM) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,300 shares of the technology company’s stock after selling 872 shares during the quarter. Kentucky Retirement Systems’ holdings in International Business Machines were worth $13,915,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Waterfront Wealth Inc. increased its holdings in shares of International Business Machines by 2.0% during the fourth quarter. Waterfront Wealth Inc. now owns 2,393 shares of the technology company’s stock valued at $526,000 after acquiring an additional 46 shares in the last quarter. One Day In July LLC bought a new position in shares of International Business Machines during the fourth quarter valued at $201,000. Cromwell Holdings LLC increased its holdings in shares of International Business Machines by 4.6% during the fourth quarter. Cromwell Holdings LLC now owns 2,821 shares of the technology company’s stock valued at $620,000 after acquiring an additional 124 shares in the last quarter. Aspen Investment Management Inc increased its holdings in shares of International Business Machines by 1.9% during the fourth quarter. Aspen Investment Management Inc now owns 5,925 shares of the technology company’s stock valued at $1,302,000 after acquiring an additional 110 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in shares of International Business Machines by 12.8% during the fourth quarter. Boston Financial Mangement LLC now owns 7,035 shares of the technology company’s stock valued at $1,547,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBM shares. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Wedbush assumed coverage on International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. BMO Capital Markets increased their price objective on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Finally, Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Up 0.2 %

Shares of International Business Machines stock opened at $264.85 on Friday. The firm has a market cap of $244.89 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 5.80 and a beta of 0.76. The business has a 50-day moving average price of $234.65 and a 200-day moving average price of $221.26. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities research analysts anticipate that International Business Machines Co. will post 10.77 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.52%. International Business Machines’s dividend payout ratio is currently 104.21%.

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.