International Business Machines Co. (NYSE:IBM) Stock Holdings Decreased by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,086 shares of the technology company's stock after selling 2,100 shares during the quarter. State of Michigan Retirement System's holdings in International Business Machines were worth $63,989,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Compass Financial Services Inc purchased a new position in International Business Machines in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its stake in International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company's stock valued at $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in International Business Machines in the 3rd quarter valued at about $29,000. Avondale Wealth Management lifted its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock valued at $34,000 after buying an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC lifted its stake in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBM shares. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, February 5th. Jefferies Financial Group raised their target price on shares of International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. BMO Capital Markets raised their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $231.44.

International Business Machines Stock Up 1.1 %

Shares of NYSE:IBM traded up $2.88 during trading on Tuesday, hitting $253.07. The company's stock had a trading volume of 5,340,963 shares, compared to its average volume of 3,918,347. The business has a 50 day moving average price of $239.50 and a two-hundred day moving average price of $225.40. The company has a market capitalization of $234.66 billion, a PE ratio of 39.48, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72.

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

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.64%. International Business Machines's 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.