Maryland State Retirement & Pension System Has $10.87 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Maryland State Retirement & Pension System lowered its holdings in shares of International Business Machines Co. (NYSE:IBM) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,452 shares of the technology company’s stock after selling 3,459 shares during the period. Maryland State Retirement & Pension System’s holdings in International Business Machines were worth $10,871,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. JBR Co Financial Management Inc raised its holdings in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock worth $1,405,000 after buying an additional 40 shares in the last quarter. Schechter Investment Advisors LLC increased its holdings in International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock worth $1,396,000 after purchasing an additional 43 shares in the last quarter. Callan Capital LLC increased its holdings in International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock worth $411,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in International Business Machines by 0.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. increased its holdings in International Business Machines by 1.9% in the 4th quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company’s stock worth $522,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 2.4 %

Shares of International Business Machines stock opened at $246.80 on Wednesday. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock’s 50-day moving average is $245.29 and its 200 day moving average is $229.16. The firm has a market cap of $228.85 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a $1.67 dividend. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.71%. International Business Machines’s payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBM. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Jefferies Financial Group upped their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price for the company. Finally, BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Company 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.