Teachers Retirement System of The State of Kentucky Sells 2,089 Shares of International Business Machines Co. (NYSE:IBM)

Teachers Retirement System of The State of Kentucky reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 209,794 shares of the technology company’s stock after selling 2,089 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in International Business Machines were worth $36,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBM. 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 lifted its position 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 buying an additional 109 shares in the last quarter. Evoke Wealth LLC increased its holdings in International Business Machines by 31.2% in the 4th quarter. Evoke Wealth LLC now owns 2,694 shares of the technology company’s stock worth $441,000 after acquiring an additional 640 shares in the last quarter. CWA Asset Management Group LLC raised its stake in International Business Machines by 6.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,102 shares of the technology company’s stock worth $2,470,000 after acquiring an additional 873 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in International Business Machines by 0.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 462,553 shares of the technology company’s stock valued at $75,651,000 after purchasing an additional 3,352 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM opened at $221.07 on Tuesday. The company has a market cap of $203.08 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The firm’s 50-day moving average price is $200.91 and its 200-day moving average price is $185.34. International Business Machines Co. has a 52-week low of $135.87 and a 52-week high of $224.15.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 earnings per share. As a group, equities analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. BMO Capital Markets lifted their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $191.93.

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.