State of New Jersey Common Pension Fund D Purchases 808 Shares of International Business Machines Co. (NYSE:IBM)

State of New Jersey Common Pension Fund D boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 337,577 shares of the technology company’s stock after purchasing an additional 808 shares during the period. State of New Jersey Common Pension Fund D’s holdings in International Business Machines were worth $74,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC acquired a new position in International Business Machines during the 1st quarter worth approximately $28,000. Hazlett Burt & Watson Inc. raised its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines in the third quarter worth $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in International Business Machines during the second quarter worth $36,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on IBM shares. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

International Business Machines stock traded up $0.03 during midday trading on Friday, hitting $213.72. The company’s stock had a trading volume of 3,201,038 shares, compared to its average volume of 4,595,376. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $197.62 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The company has a 50-day moving average price of $218.02 and a two-hundred day moving average price of $192.31.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio is 97.23%.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

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.