Retirement Systems of Alabama Has $157.71 Million Holdings in International Business Machines Co. (NYSE:IBM)

Retirement Systems of Alabama decreased its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 8.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 713,362 shares of the technology company's stock after selling 63,045 shares during the quarter. International Business Machines comprises 0.6% of Retirement Systems of Alabama's holdings, making the stock its 25th largest position. Retirement Systems of Alabama owned 0.08% of International Business Machines worth $157,710,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Ellenbecker Investment Group boosted its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company's stock valued at $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC grew its stake in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock valued at $269,000 after purchasing an additional 47 shares in the last quarter. Vertex Planning Partners LLC increased its holdings in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock worth $298,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC boosted its stake in shares of International Business Machines by 3.7% during the 3rd quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company's stock valued at $301,000 after buying an additional 49 shares during the last quarter. Finally, Lansing Street Advisors grew its position in shares of International Business Machines by 3.4% during the third quarter. Lansing Street Advisors now owns 1,503 shares of the technology company's stock worth $332,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company's stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IBM shares. Stifel Nicolaus increased their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Bank of America upped their price objective on International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Morgan Stanley reduced their price objective on International Business Machines from $217.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 24th. Finally, DZ Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $208.12.

International Business Machines Price Performance

IBM stock traded down $1.51 during trading on Friday, hitting $230.75. The company had a trading volume of 2,757,381 shares, compared to its average volume of 4,227,999. The business has a 50 day moving average of $222.57 and a 200 day moving average of $201.12. The firm has a market capitalization of $213.36 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 5.17 and a beta of 0.73. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a fifty-two week low of $157.88 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business posted $2.20 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, research analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.89%. International Business Machines's dividend payout ratio (DPR) is 97.23%.

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.