State of Tennessee Department of Treasury Has $73.07 Million Stock Position in International Business Machines Co. (NYSE:IBM)

State of Tennessee Department of Treasury decreased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,406 shares of the technology company's stock after selling 10,462 shares during the period. State of Tennessee Department of Treasury's holdings in International Business Machines were worth $73,073,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of International Business Machines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company's stock valued at $20,189,023,000 after acquiring an additional 1,539,888 shares during the last quarter. Geode Capital Management LLC boosted its holdings in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after buying an additional 427,499 shares during the last quarter. Capital World Investors grew its position in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after buying an additional 9,650,534 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,665,256 shares of the technology company's stock valued at $1,465,223,000 after acquiring an additional 126,547 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of International Business Machines in the 4th quarter valued at approximately $1,236,176,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Down 6.6 %

NYSE:IBM traded down $16.19 on Thursday, hitting $229.29. 15,407,890 shares of the company's stock were exchanged, compared to its average volume of 4,291,905. The firm has a 50-day moving average price of $246.57 and a 200-day moving average price of $233.87. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a market cap of $212.61 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.91%. International Business Machines's dividend payout ratio is presently 104.21%.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a research note on Wednesday. The Goldman Sachs Group reissued a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $276.00 price objective on shares of International Business Machines in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $242.44.

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.