Texas Permanent School Fund Corp Sells 30,482 Shares of International Business Machines Corporation $IBM

Texas Permanent School Fund Corp lowered its stake in International Business Machines Corporation (NYSE:IBM) by 30.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 69,942 shares of the technology company’s stock after selling 30,482 shares during the period. Texas Permanent School Fund Corp’s holdings in International Business Machines were worth $20,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group grew its stake in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after purchasing an additional 1,630 shares during the period. Vise Technologies Inc. bought a new stake in International Business Machines during the second quarter valued at approximately $16,565,000. Edgar Lomax Co. VA grew its position in International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares during the period. Vanguard Group Inc. increased its holdings in International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after buying an additional 1,913,708 shares during the last quarter. Finally, Thames Capital Management LLC bought a new position in International Business Machines in the second quarter worth approximately $2,710,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock opened at $309.33 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The company’s fifty day moving average price is $299.47 and its 200-day moving average price is $278.32. International Business Machines Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a market capitalization of $289.14 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the firm posted $2.30 EPS. International Business Machines’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. BMO Capital Markets upped their price target on International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Stifel Nicolaus increased their target price on shares of International Business Machines from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, Bank of America upped their price target on shares of International Business Machines from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average target price of $293.38.

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.