International Business Machines Co. (NYSE:IBM) Position Cut by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of International Business Machines Co. (NYSE:IBM) by 8.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,273 shares of the technology company’s stock after selling 2,356 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in International Business Machines were worth $6,030,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the period. Hara Capital LLC bought a new stake in shares of International Business Machines during the third quarter valued at about $29,000. ESL Trust Services LLC bought a new position in International Business Machines in the 1st quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in International Business Machines during the 3rd quarter valued at about $43,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $204.99 on Friday. International Business Machines Co. has a 12 month low of $152.13 and a 12 month high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $189.54 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.74 and a beta of 0.71. The business has a fifty day simple moving average of $218.79 and a 200-day simple moving average of $193.48.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a yield of 3.26%. International Business Machines’s payout ratio is 97.23%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. UBS Group raised their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

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.