Retirement Systems of Alabama Decreases Stake in International Business Machines Corporation $IBM

Retirement Systems of Alabama lowered its position in International Business Machines Corporation (NYSE:IBM) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 669,449 shares of the technology company’s stock after selling 32,604 shares during the quarter. International Business Machines accounts for approximately 0.6% of Retirement Systems of Alabama’s holdings, making the stock its 21st largest holding. Retirement Systems of Alabama’s holdings in International Business Machines were worth $198,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in International Business Machines in the 3rd quarter valued at about $852,000. Waverton Investment Management Ltd boosted its holdings in International Business Machines by 3.3% in the third quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock valued at $280,439,000 after purchasing an additional 32,072 shares during the last quarter. NEOS Investment Management LLC increased its holdings in International Business Machines by 51.7% during the 3rd quarter. NEOS Investment Management LLC now owns 114,395 shares of the technology company’s stock worth $32,278,000 after purchasing an additional 38,973 shares during the last quarter. American National Bank & Trust lifted its position in shares of International Business Machines by 26.2% during the third quarter. American National Bank & Trust now owns 12,537 shares of the technology company’s stock worth $3,537,000 after purchasing an additional 2,603 shares during the last quarter. Finally, Advisors Capital Management LLC grew its position in shares of International Business Machines by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 347,155 shares of the technology company’s stock worth $97,953,000 after acquiring an additional 12,623 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBM shares. Oppenheimer set a $380.00 target price on International Business Machines and gave the company an “outperform” rating in a report on Thursday, January 29th. Wedbush reissued an “outperform” rating and set a $340.00 target price on shares of International Business Machines in a report on Tuesday, February 24th. Stifel Nicolaus raised their price objective on shares of International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Finally, Erste Group Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.60.

Insider Transactions at International Business Machines

In related news, Director Michael Miebach bought 434 shares of International Business Machines stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the acquisition, the director owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David N. Farr purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director directly owned 9,258 shares in the company, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 1,484 shares of company stock valued at $417,157. Corporate insiders own 0.27% of the company’s stock.

International Business Machines Stock Up 0.4%

IBM opened at $237.17 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $222.47 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 2.37 and a beta of 0.73. The business has a 50 day moving average of $264.11 and a 200-day moving average of $284.53. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The company had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter in the prior year, the company posted $3.92 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th were given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 60.27%.

International Business Machines Company 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.