Retirement Systems of Alabama Sells 32,604 Shares of International Business Machines Corporation $IBM

Retirement Systems of Alabama decreased its holdings in International Business Machines Corporation (NYSE:IBM) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 669,449 shares of the technology company’s stock after selling 32,604 shares during the period. International Business Machines comprises approximately 0.6% of Retirement Systems of Alabama’s investment portfolio, making the stock its 21st biggest holding. Retirement Systems of Alabama owned about 0.07% of International Business Machines worth $198,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBM. Mountain Hill Investment Partners Corp. purchased a new position in shares of International Business Machines in the 3rd quarter valued at $28,000. SWAN Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter worth $28,000. Trifecta Capital Advisors LLC boosted its position in International Business Machines by 129.1% during the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. American Wealth Advisors LLC bought a new position in International Business Machines in the third quarter worth about $40,000. Finally, Davis Capital Management bought a new position in International Business Machines in the third quarter worth about $54,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. BMO Capital Markets lowered their price target on International Business Machines from $350.00 to $290.00 and set a “market perform” rating for the company in a research report on Thursday, March 19th. Royal Bank Of Canada set a $361.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Finally, Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the company an “outperform” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $314.60.

Insider Activity at International Business Machines

In other International Business Machines news, Director Michael Miebach purchased 434 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $233.33 per share, with a total value of $101,265.22. Following the acquisition, the director directly owned 434 shares of the company’s stock, valued at approximately $101,265.22. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director owned 9,258 shares of the company’s stock, valued at $2,814,432. This represents a 12.11% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,484 shares of company stock valued at $417,157 in the last quarter. 0.27% of the stock is currently owned by company insiders.

International Business Machines Price Performance

IBM stock opened at $237.17 on Tuesday. International Business Machines Corporation has a 52-week low of $214.50 and a 52-week high of $324.90. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The stock has a market cap of $222.47 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. The business has a fifty day moving average of $264.11 and a two-hundred day moving average of $284.53.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. The company had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. International Business Machines’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.92 earnings per share. As a group, research analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.8%. International Business Machines’s payout ratio is currently 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.