Arizona State Retirement System Boosts Stake in International Business Machines Co. (NYSE:IBM)

Arizona State Retirement System boosted its position in shares of International Business Machines Co. (NYSE:IBM) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,769 shares of the technology company’s stock after buying an additional 3,734 shares during the period. Arizona State Retirement System’s holdings in International Business Machines were worth $45,965,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Mosley Wealth Management purchased a new stake in International Business Machines during the fourth quarter valued at $312,000. Hodges Capital Management Inc. raised its position in shares of International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised its position in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after buying an additional 250 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in International Business Machines during the fourth quarter worth approximately $3,017,000. Finally, Dimensional Fund Advisors LP raised its position in International Business Machines by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,500,184 shares of the technology company’s stock valued at $736,015,000 after purchasing an additional 97,482 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.1 %

Shares of NYSE IBM opened at $202.78 on Friday. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $205.95. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business has a fifty day simple moving average of $188.97 and a two-hundred day simple moving average of $182.42. The firm has a market cap of $186.27 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 4.50 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 earnings per share. Analysts expect that International Business Machines Co. will post 10.09 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IBM shares. Royal Bank of Canada boosted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $185.93.

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.