California Public Employees Retirement System Raises Stock Position in International Business Machines Co. (NYSE:IBM)

California Public Employees Retirement System grew its stake in International Business Machines Co. (NYSE:IBM) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,357,047 shares of the technology company’s stock after buying an additional 11,205 shares during the period. International Business Machines makes up about 0.8% of California Public Employees Retirement System’s holdings, making the stock its 22nd biggest holding. California Public Employees Retirement System’s holdings in International Business Machines were worth $1,039,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of IBM. International Assets Investment Management LLC grew its stake in International Business Machines by 15,439.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,653,462 shares of the technology company’s stock worth $433,974,000 after buying an additional 2,636,386 shares in the last quarter. Morgan Stanley grew its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after buying an additional 1,919,490 shares in the last quarter. Bank of New York Mellon Corp grew its stake in International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after buying an additional 807,357 shares in the last quarter. Northern Trust Corp grew its stake in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in International Business Machines by 162.4% in the 3rd quarter. Acadian Asset Management LLC now owns 621,682 shares of the technology company’s stock worth $87,204,000 after buying an additional 384,744 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

NYSE:IBM traded up $0.36 during midday trading on Monday, reaching $181.94. 3,074,695 shares of the stock traded hands, compared to its average volume of 4,758,516. The company has a fifty day moving average of $188.46 and a 200 day moving average of $169.31. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $199.18. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market capitalization of $166.79 billion, a P/E ratio of 22.47, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same period in the prior year, the business posted $3.60 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts predict that International Business Machines Co. will post 10.04 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s payout ratio is currently 81.67%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IBM. UBS Group boosted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday. Jefferies Financial Group began coverage on shares of International Business Machines in a report on Friday, January 5th. They issued a “hold” rating and a $180.00 price objective for the company. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Stifel Nicolaus restated a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a report on Wednesday, April 17th. Finally, Sanford C. Bernstein boosted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $174.92.

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.