Teachers Retirement System of The State of Kentucky Buys 12,963 Shares of International Business Machines Co. (NYSE:IBM)

Teachers Retirement System of The State of Kentucky raised its position in International Business Machines Co. (NYSE:IBM) by 6.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 222,757 shares of the technology company’s stock after acquiring an additional 12,963 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in International Business Machines were worth $49,247,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IBM. International Assets Investment Management LLC grew its stake in International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Holocene Advisors LP acquired a new stake in International Business Machines in the third quarter valued at $573,306,000. State Street Corp grew its position in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock valued at $134,262,000 after purchasing an additional 536,785 shares during the period. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $208.12.

International Business Machines Stock Performance

NYSE:IBM opened at $231.76 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $214.30 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 5.16 and a beta of 0.73. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $239.35. The stock’s 50-day simple moving average is $221.92 and its 200 day simple moving average is $200.27.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. International Business Machines’s payout ratio is 97.23%.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.