International Business Machines Co. (NYSE:IBM) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 337,577 shares of the technology company’s stock after purchasing an additional 808 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in International Business Machines were worth $74,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines during the first quarter valued at $26,000. ESL Trust Services LLC bought a new stake in shares of International Business Machines during the first quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. boosted its position in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares during the period. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the 2nd quarter valued at approximately $36,000. Institutional investors own 58.96% of the company’s stock.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

International Business Machines stock traded up $0.03 during mid-day trading on Friday, hitting $213.72. 3,201,038 shares of the company were exchanged, compared to its average volume of 4,595,376. International Business Machines Co. has a 1-year low of $145.28 and a 1-year high of $237.37. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The business has a fifty day moving average of $218.02 and a 200 day moving average of $192.31. The company has a market capitalization of $197.62 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. As a group, sell-side analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.13%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Morgan Stanley decreased their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average target price of $208.12.

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.