State of Alaska Department of Revenue Boosts Stock Position in International Business Machines Corporation $IBM

State of Alaska Department of Revenue increased its holdings in International Business Machines Corporation (NYSE:IBM) by 24.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 129,712 shares of the technology company’s stock after buying an additional 25,407 shares during the period. State of Alaska Department of Revenue’s holdings in International Business Machines were worth $36,598,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Lifestyle Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.7% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock valued at $632,000 after acquiring an additional 36 shares during the last quarter. Whelan Financial increased its stake in International Business Machines by 2.4% during the second quarter. Whelan Financial now owns 1,525 shares of the technology company’s stock worth $450,000 after acquiring an additional 36 shares during the last quarter. Ignite Planners LLC raised its position in International Business Machines by 0.9% during the second quarter. Ignite Planners LLC now owns 3,964 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 36 shares during the period. Vishria Bird Financial Group LLC raised its position in International Business Machines by 3.0% during the third quarter. Vishria Bird Financial Group LLC now owns 1,230 shares of the technology company’s stock valued at $347,000 after purchasing an additional 36 shares during the period. Finally, TI Trust Inc. lifted its stake in shares of International Business Machines by 0.8% in the 3rd quarter. TI Trust Inc. now owns 4,492 shares of the technology company’s stock valued at $1,267,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock opened at $302.69 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $282.93 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 2.75 and a beta of 0.70. The firm has a 50-day moving average of $303.61 and a two-hundred day moving average of $281.94. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90.

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

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio is currently 80.38%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBM. Stifel Nicolaus increased their price target on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Bank of America boosted their price objective on shares of International Business Machines from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Morgan Stanley lowered their target price on shares of 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. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Finally, Jefferies Financial Group raised shares of International Business Machines from a “hold” rating to a “buy” rating and raised their price objective for the stock from $300.00 to $360.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.85.

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.