State of Michigan Retirement System Sells 2,100 Shares of International Business Machines Co. (NYSE:IBM)

State of Michigan Retirement System decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,086 shares of the technology company’s stock after selling 2,100 shares during the period. State of Michigan Retirement System’s holdings in International Business Machines were worth $63,989,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new stake in shares of International Business Machines during the fourth quarter worth $26,000. Hazlett Burt & Watson Inc. increased 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 acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines during the third quarter worth $29,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its holdings in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM opened at $250.04 on Tuesday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The firm has a market cap of $231.85 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 5.81 and a beta of 0.76. The firm’s 50-day simple moving average is $238.93 and its 200 day simple moving average is $224.98. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated 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 directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. UBS Group increased their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Bank of America increased their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets increased their price target on shares of 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.44.

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.