International Business Machines Co. (NYSE:IBM) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in International Business Machines Co. (NYSE:IBM) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,270 shares of the technology company’s stock after purchasing an additional 655 shares during the period. State of Alaska Department of Revenue’s holdings in International Business Machines were worth $18,956,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Altiora Financial Group LLC acquired a new position in shares of International Business Machines during the 1st quarter worth about $215,000. Tower Wealth Partners Inc. boosted its holdings in International Business Machines by 26.0% in the first quarter. Tower Wealth Partners Inc. now owns 2,041 shares of the technology company’s stock valued at $390,000 after purchasing an additional 421 shares in the last quarter. Naviter Wealth LLC increased its stake in International Business Machines by 12.4% in the first quarter. Naviter Wealth LLC now owns 8,849 shares of the technology company’s stock valued at $1,690,000 after purchasing an additional 975 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in International Business Machines during the first quarter worth approximately $81,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $1,967,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on IBM shares. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Thursday, May 16th. Jefferies Financial Group decreased their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Wedbush lifted their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, BNP Paribas began coverage on International Business Machines in a report on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Performance

IBM traded down $1.59 during trading on Wednesday, hitting $175.71. The stock had a trading volume of 1,649,049 shares, compared to its average volume of 4,520,576. The firm has a market capitalization of $161.41 billion, a P/E ratio of 19.98, a PEG ratio of 4.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a twelve month low of $131.55 and a twelve month high of $199.18. The company’s 50-day moving average price is $169.72 and its 200 day moving average price is $176.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. On average, equities research analysts forecast that International Business Machines Co. will post 9.9 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

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.