Maryland State Retirement & Pension System Raises Stock Position in International Business Machines Co. (NYSE:IBM)

by · The Cerbat Gem

Maryland State Retirement & Pension System grew its holdings in International Business Machines Co. (NYSE:IBM – Free Report) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,988 shares of the technology company’s stock after acquiring an additional 571 shares during the period. Maryland State Retirement & Pension System’s holdings in International Business Machines were worth $9,819,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fiduciary Alliance LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at $28,000. Live Oak Investment Partners purchased a new position in shares of International Business Machines in the 4th quarter valued at $30,000. PCA Investment Advisory Services Inc. purchased a new position in shares of International Business Machines in the 2nd quarter valued at $31,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in International Business Machines during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.

International Business Machines Stock Down 0.1 %

Shares of IBM traded down $0.20 during midday trading on Monday, hitting $163.55. The company had a trading volume of 2,526,100 shares, compared to its average volume of 4,455,581. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $166.34. The company’s 50 day moving average price is $154.59 and its 200 day moving average price is $145.70. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 2.11. The stock has a market cap of $149.34 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 4.45 and a beta of 0.76.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The business had revenue of $14.75 billion during the quarter, compared to analyst estimates of $14.73 billion. During the same period in the previous year, the business posted $1.81 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts predict that International Business Machines Co. will post 9.45 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Friday, November 10th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, November 9th. International Business Machines’s dividend payout ratio (DPR) is presently 88.06%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IBM shares. Bank of America lifted their price target on shares of International Business Machines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. BMO Capital Markets lifted their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Wedbush reaffirmed a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research note on Monday, November 13th. Finally, Morgan Stanley dropped their price target on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $150.00.

View Our Latest Research Report on IBM

International Business Machines Profile

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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