State of Michigan Retirement System Acquires 700 Shares of International Business Machines Co. (NYSE:IBM)

State of Michigan Retirement System lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 289,986 shares of the technology company’s stock after acquiring an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in International Business Machines were worth $55,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. increased its position in shares of International Business Machines by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares during the last quarter. Arden Trust Co grew its holdings in International Business Machines by 2.8% during the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Calamos Wealth Management LLC grew its holdings in International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after purchasing an additional 55 shares during the period. Avion Wealth grew its holdings in International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares during the period. Finally, Chicago Partners Investment Group LLC grew its holdings in International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 58 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBM. Morgan Stanley reduced their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. BNP Paribas began coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price objective for the company. UBS Group increased their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. cut their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $182.53.

International Business Machines Price Performance

NYSE:IBM traded up $2.21 during trading hours on Tuesday, hitting $177.31. 2,882,965 shares of the company’s stock traded hands, compared to its average volume of 4,543,362. The firm has a market cap of $162.88 billion, a P/E ratio of 20.05, a P/E/G ratio of 4.27 and a beta of 0.71. International Business Machines Co. has a 52 week low of $131.55 and a 52 week high of $199.18. The business’s fifty day simple moving average is $169.82 and its two-hundred day simple moving average is $176.66. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $1.67 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.77%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

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.