State of Alaska Department of Revenue Cuts Stake in International Business Machines Co. (NYSE:IBM)

State of Alaska Department of Revenue trimmed its stake in International Business Machines Co. (NYSE:IBM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,420 shares of the technology company’s stock after selling 2,580 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Business Machines were worth $23,174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its holdings in International Business Machines by 1,054.5% during 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 period. Hara Capital LLC bought a new position in shares of International Business Machines during the 3rd quarter worth $29,000. Avondale Wealth Management increased its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC raised its stake in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Finally, Modus Advisors LLC bought a new position in International Business Machines during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 0.5 %

Shares of NYSE:IBM opened at $263.03 on Thursday. The stock’s 50-day moving average is $228.01 and its 200 day moving average is $215.86. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a market cap of $243.21 billion, a PE ratio of 41.04, a P/E/G ratio of 5.63 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts anticipate that International Business Machines Co. will post 10.73 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.54%. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the 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 sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IBM shares. Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Morgan Stanley increased their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average target price of $225.53.

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.