Kentucky Retirement Systems Sells 266 Shares of International Business Machines Co. (NYSE:IBM)

Kentucky Retirement Systems lessened its holdings in International Business Machines Co. (NYSE:IBM) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,223 shares of the technology company’s stock after selling 266 shares during the period. Kentucky Retirement Systems’ holdings in International Business Machines were worth $11,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its holdings in International Business Machines by 2.7% in the 4th quarter. Gilbert & Cook Inc. now owns 3,892 shares of the technology company’s stock worth $637,000 after purchasing an additional 101 shares during the period. Aveo Capital Partners LLC grew its stake in shares of International Business Machines by 3.6% during the 4th quarter. Aveo Capital Partners LLC now owns 3,101 shares of the technology company’s stock valued at $507,000 after acquiring an additional 109 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of International Business Machines by 6.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,394 shares of the technology company’s stock valued at $386,000 after acquiring an additional 147 shares during the period. TrinityPoint Wealth LLC increased its holdings in International Business Machines by 12.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,909 shares of the technology company’s stock worth $639,000 after acquiring an additional 428 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in International Business Machines by 32.7% during the 4th quarter. Clearbridge Investments LLC now owns 45,653 shares of the technology company’s stock worth $7,467,000 after acquiring an additional 11,247 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $214.86 on Thursday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The business has a 50 day simple moving average of $195.11 and a two-hundred day simple moving average of $184.00. The stock has a market capitalization of $197.37 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. On average, research analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.11%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Jefferies Financial Group raised their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $188.60.

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.