Arizona State Retirement System Acquires 3,696 Shares of International Business Machines Co. (NYSE:IBM)

Arizona State Retirement System grew its holdings in International Business Machines Co. (NYSE:IBM - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,122 shares of the technology company's stock after purchasing an additional 3,696 shares during the period. Arizona State Retirement System's holdings in International Business Machines were worth $58,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. boosted its position in International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock worth $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines during the third quarter worth $29,000. Avondale Wealth Management boosted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after purchasing an additional 56 shares during the period. Finally, Valued Wealth Advisors LLC boosted its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock worth $35,000 after purchasing an additional 90 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBM. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Bank of America boosted their target price 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. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. Finally, Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of "Hold" and an average price target of $231.44.

International Business Machines Price Performance

NYSE IBM traded down $1.81 during trading on Wednesday, hitting $251.40. 4,007,968 shares of the company's stock were exchanged, compared to its average volume of 3,910,835. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market cap of $233.11 billion, a PE ratio of 39.22, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The stock's 50 day moving average price is $240.04 and its two-hundred day moving average price is $225.58.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Research analysts expect that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines's dividend payout ratio is currently 104.21%.

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.