International Business Machines Co. (NYSE:IBM) Position Trimmed by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in International Business Machines Co. (NYSE:IBM) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,111 shares of the technology company’s stock after selling 3,296 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in International Business Machines were worth $21,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of IBM. FPC Investment Advisory Inc. acquired a new stake in shares of International Business Machines during the first quarter worth $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines during the 1st quarter worth about $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 1.7 %

International Business Machines stock opened at $217.63 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $218.84. The firm’s fifty day simple moving average is $196.52 and its 200-day simple moving average is $184.38. The company has a market capitalization of $199.92 billion, a P/E ratio of 24.65, a P/E/G ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The company had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.07%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IBM. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada raised their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $188.60.

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.