Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,267 Shares of International Business Machines Corporation $IBM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in International Business Machines Corporation (NYSE:IBM) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,425 shares of the technology company’s stock after selling 6,267 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in International Business Machines were worth $64,403,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Family CFO Inc bought a new stake in shares of International Business Machines in the fourth quarter worth about $25,000. Basepoint Wealth LLC bought a new stake in shares of International Business Machines in the fourth quarter worth about $25,000. Joseph Group Capital Management bought a new stake in shares of International Business Machines in the fourth quarter worth about $28,000. SWAN Capital LLC bought a new stake in shares of International Business Machines in the third quarter worth about $28,000. Finally, DecisionPoint Financial LLC increased its holdings in shares of International Business Machines by 1,666.7% in the fourth quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Up 12.9%

Shares of NYSE:IBM opened at $298.26 on Friday. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $324.90. The business has a 50 day simple moving average of $240.16 and a two-hundred day simple moving average of $270.98. The firm has a market capitalization of $280.33 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 3.08 and a beta of 0.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts predict that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 2.3%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date is Friday, May 8th. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBM. HSBC raised International Business Machines from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $218.00 to $231.00 in a report on Tuesday, April 28th. Morgan Stanley boosted their price objective on International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. DZ Bank raised International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective on the stock in a research note on Friday, April 24th. BMO Capital Markets reduced their price objective on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on International Business Machines from $317.00 to $283.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $294.41.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM unveiled a more than $10 billion quantum computing investment plan, reinforcing its leadership in an emerging high-growth market. IBM to invest $10 billion for large-scale quantum computer by 2029
• Positive Sentiment: IBM and Red Hat launched Project Lightwell, a $5 billion push to secure open-source software with AI tools and 20,000 engineers, which could strengthen its enterprise security franchise. IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era
• Positive Sentiment: Wedbush reiterated an Outperform rating and raised its target to $320, signaling continued analyst confidence in IBM’s upside. IBM Is Chasing A ‘$1 Trillion Value Creation Engine’ — And It’s Spending $15 Billion To Get There

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.