Treasurer of the State of North Carolina Acquires 4,131 Shares of International Business Machines Co. (NYSE:IBM)

Treasurer of the State of North Carolina lifted its holdings in International Business Machines Co. (NYSE:IBM) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,574 shares of the technology company’s stock after buying an additional 4,131 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.05% of International Business Machines worth $108,942,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IBM. Wellington Management Group LLP raised its holdings in shares of International Business Machines by 5.0% during the third quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company’s stock valued at $50,365,000 after purchasing an additional 10,862 shares during the last quarter. Brophy Wealth Management LLC bought a new stake in shares of International Business Machines during the 3rd quarter valued at $559,000. Teachers Retirement System of The State of Kentucky raised its holdings in International Business Machines by 6.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 222,757 shares of the technology company’s stock valued at $49,247,000 after acquiring an additional 12,963 shares during the period. Fortem Financial Group LLC purchased a new position in International Business Machines in the 3rd quarter worth approximately $838,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of International Business Machines by 3.2% during the third quarter. Rehmann Capital Advisory Group now owns 10,493 shares of the technology company’s stock worth $2,320,000 after acquiring an additional 323 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $235.58 on Thursday. The business’s 50 day moving average is $250.35 and its 200-day moving average is $232.80. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $218.44 billion, a PE ratio of 36.75, a PEG ratio of 5.81 and a beta of 0.67. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.84%. International Business Machines’s payout ratio is currently 104.21%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of International Business Machines from $270.00 to $265.00 and set a “hold” rating for the company in a report on Monday, March 31st. Wedbush started coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Bank of America upped their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.13.

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.