Teachers Retirement System of The State of Kentucky Increases Stake in International Business Machines Co. (NYSE:IBM)

Teachers Retirement System of The State of Kentucky increased its position in International Business Machines Co. (NYSE:IBM - Free Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,757 shares of the technology company's stock after buying an additional 12,963 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in International Business Machines were worth $49,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company's stock valued at $126,000 after buying an additional 166 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in International Business Machines during the 2nd quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $5,117,000. Aljian Capital Management LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at $611,000. Finally, Focused Wealth Management Inc increased its position in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company's stock worth $2,504,000 after buying an additional 3,887 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Stock Down 0.7 %

International Business Machines stock traded down $1.60 during trading on Wednesday, hitting $230.12. 3,809,640 shares of the company were exchanged, compared to its average volume of 4,227,491. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business's 50 day moving average is $222.17 and its 200 day moving average is $200.70. International Business Machines Co. has a 52 week low of $157.88 and a 52 week high of $239.35. The company has a market capitalization of $212.78 billion, a P/E ratio of 33.83, a PEG ratio of 5.16 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $15.08 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.90%. International Business Machines's payout ratio is presently 97.23%.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their target price on International Business Machines from $235.00 to $260.00 and gave the stock a "market perform" rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a "hold" rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, StockNews.com lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $208.12.

International Business Machines 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.