International Business Machines Co. (NYSE:IBM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of International Business Machines Co. (NYSE:IBM) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 794,674 shares of the technology company’s stock after selling 33,485 shares during the period. New York State Teachers Retirement System’s holdings in International Business Machines were worth $174,693,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IBM. State Street Corp grew its holdings in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares in the last quarter. FMR LLC grew its holdings in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Swiss National Bank grew its holdings in International Business Machines by 0.5% during the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after acquiring an additional 12,400 shares in the last quarter. International Assets Investment Management LLC grew its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in International Business Machines during the 3rd quarter worth approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday. They issued an “outperform” rating and a $320.00 price target for the company. Wedbush started coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. Finally, Bank of America upped their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $259.07 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The stock has a market cap of $239.55 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The firm’s fifty day simple moving average is $231.15 and its 200-day simple moving average is $218.49.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.58%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

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.