International Business Machines Corporation $IBM Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,977 shares of the technology company’s stock after selling 2,761 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in International Business Machines were worth $23,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IBM. Basepoint Wealth LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $25,000. Family CFO Inc acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines in the fourth quarter valued at approximately $28,000. SWAN Capital LLC acquired a new position in International Business Machines during the third quarter worth approximately $28,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in International Business Machines during the fourth quarter worth approximately $31,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Price Performance

IBM opened at $272.78 on Thursday. International Business Machines Corporation has a twelve month low of $212.34 and a twelve month high of $332.46. The firm has a market cap of $256.38 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.87 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The company has a fifty day simple moving average of $248.79 and a 200 day simple moving average of $270.49.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same period in the prior year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 12.4 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio is 59.77%.

Analysts Set New Price Targets

IBM has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Morgan Stanley increased their target price on International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. BMO Capital Markets reduced their target price on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings upgraded International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.17.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer publicly favored IBM over Xanadu Quantum, saying investors should “buy IBM” if they want exposure to the quantum theme, which can reinforce confidence in IBM as a more credible and profitable long-term AI/quantum name. Jim Cramer Recommends IBM Over Xanadu Quantum
• Positive Sentiment: IBM announced an expanded global collaboration with JA Worldwide to deliver AI and digital-skills education to up to one million high-school students, highlighting IBM’s efforts to build ecosystem adoption and strengthen its brand in AI. JA Worldwide and IBM Expand Global Collaboration with Goal of Delivering AI and Digital Skills to Up to One Million High-School Students
• Positive Sentiment: Several articles framed IBM as a strong long-term beneficiary of the quantum-computing boom, including coverage that described IBM as a “safer play” alongside Alphabet in the sector and another piece calling IBM a long-term buy tied to its recurring-revenue software and infrastructure engine. Quantum Computing Looks Like Nvidia in 2019. This Could Be the Generational Buy of the Decade.
• Neutral Sentiment: IBM CEO Arvind Krishna’s recent comments on quantum advantage, AI usage, and the company’s profit strategy keep IBM in the AI/quantum conversation, but the remarks were more strategic than immediately financial. IBM CEO Krishna on Quantum Advantage, Profit Strategy
• Neutral Sentiment: One analyst-style article argued that Celestica may be a better AI infrastructure buy than IBM due to faster growth and a cheaper valuation, which is a reminder that IBM still faces competition for investor capital in AI hardware/infrastructure. Celestica vs. IBM: Which AI Infrastructure Stock is the Better Buy?
• Negative Sentiment: Recent 247WallSt commentary said IBM has already rallied enough that some investors may prefer to wait for a pullback, and it also noted the stock is not cheap after IBM’s large quantum investment announcement. IBM Just Placed a $10 Billion Bet to Become the Nvidia of Quantum Computing

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.