Alaska Permanent Fund Corp Sells 4,470 Shares of International Business Machines Co. (NYSE:IBM)

Alaska Permanent Fund Corp trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,914 shares of the technology company’s stock after selling 4,470 shares during the period. Alaska Permanent Fund Corp’s holdings in International Business Machines were worth $11,434,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Global Investments acquired a new stake in International Business Machines in the 3rd quarter valued at $235,000. Ziegler Capital Management LLC boosted its holdings in International Business Machines by 0.8% in the third quarter. Ziegler Capital Management LLC now owns 21,863 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 172 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in International Business Machines by 4.1% during the third quarter. GHP Investment Advisors Inc. now owns 72,914 shares of the technology company’s stock valued at $10,096,000 after buying an additional 2,859 shares during the period. Brown Miller Wealth Management LLC raised its position in International Business Machines by 46.5% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 12,644 shares of the technology company’s stock worth $1,773,000 after buying an additional 4,015 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in shares of International Business Machines by 87.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 87,212 shares of the technology company’s stock valued at $12,237,000 after acquiring an additional 40,678 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 8.9 %

NYSE IBM traded down $16.46 during trading on Thursday, hitting $167.64. The company had a trading volume of 3,462,826 shares, compared to its average volume of 4,765,249. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The company’s fifty day moving average is $188.36 and its 200-day moving average is $169.98. The company has a market cap of $153.68 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 3.58 and a beta of 0.70. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter last year, the business earned $1.36 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.96%. International Business Machines’s payout ratio is 81.67%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Societe Generale reissued a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets increased their target price on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Royal Bank of Canada boosted their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $178.77.

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.