Retirement Systems of Alabama Decreases Stake in International Business Machines Corporation $IBM

Retirement Systems of Alabama lowered its holdings in International Business Machines Corporation (NYSE:IBM) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,131 shares of the technology company’s stock after selling 83,032 shares during the quarter. International Business Machines accounts for about 0.6% of Retirement Systems of Alabama’s investment portfolio, making the stock its 23rd biggest holding. Retirement Systems of Alabama owned 0.06% of International Business Machines worth $173,959,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group grew its holdings in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its holdings in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC grew its holdings in shares of International Business Machines by 1,547.8% in the first 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 period. Alpha Cubed Investments LLC grew its holdings in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after acquiring an additional 2,399 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after acquiring an additional 3,276 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Melius Research raised International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Morgan Stanley cut their price objective on International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. UBS Group lifted their price objective on International Business Machines from $200.00 to $210.00 and gave the stock a “sell” rating in a report on Thursday, October 23rd. Bank of America boosted their price target on International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Stifel Nicolaus cut their price target on International Business Machines from $310.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $288.00.

International Business Machines Stock Performance

NYSE:IBM opened at $308.17 on Thursday. The stock has a 50-day simple moving average of $270.43 and a two-hundred day simple moving average of $265.70. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $319.35. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $288.05 billion, a PE ratio of 36.86, a P/E/G ratio of 4.39 and a beta of 0.73.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $1.68 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio is 80.38%.

International Business Machines 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.