Kentucky Retirement Systems Insurance Trust Fund Makes New $4.64 Million Investment in International Business Machines Co. (NYSE:IBM)
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Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,047 shares of the technology company’s stock, valued at approximately $4,636,000.
Several other large investors also recently modified their holdings of the stock. Fiduciary Alliance LLC purchased a new stake in International Business Machines in the second quarter worth $25,000. Cornerstone Planning Group LLC purchased a new stake in International Business Machines in the 2nd quarter worth about $28,000. Live Oak Investment Partners bought a new stake in International Business Machines in the 4th quarter valued at about $30,000. PCA Investment Advisory Services Inc. purchased a new stake in International Business Machines during the second quarter valued at about $31,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in International Business Machines during the second quarter worth about $34,000. Hedge funds and other institutional investors own 56.16% of the company’s stock.
International Business Machines Trading Down 0.4 %
IBM stock traded down $0.67 during midday trading on Tuesday, hitting $162.07. The company had a trading volume of 1,392,034 shares, compared to its average volume of 4,492,025. The stock has a market cap of $147.99 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 4.42 and a beta of 0.77. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $166.34. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. The stock’s 50 day moving average price is $150.57 and its 200 day moving average price is $143.96.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.08. The business had revenue of $14.75 billion during the quarter, compared to analysts’ expectations of $14.73 billion. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 EPS. As a group, equities research analysts expect that International Business Machines Co. will post 9.45 earnings per share for the current fiscal year.
International Business Machines Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 9th. Shareholders of record on Friday, November 10th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, November 9th. International Business Machines’s dividend payout ratio (DPR) is currently 88.06%.
Analyst Upgrades and Downgrades
IBM has been the topic of a number of recent research reports. Bank of America upped their price target on shares of International Business Machines from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Morgan Stanley cut their price target on shares of International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. Royal Bank of Canada dropped their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Finally, BMO Capital Markets increased their target price on International Business Machines from $152.00 to $155.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $150.00.
Read Our Latest Research Report on International Business Machines
International Business Machines Company Profile
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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