State of Alaska Department of Revenue raised its stake in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 5.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,000 shares of the technology company’s stock after buying an additional 5,960 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Business Machines were worth $23,876,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the period. Legal & General Group Plc raised its holdings in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after acquiring an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of International Business Machines by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.
International Business Machines Price Performance
NYSE IBM opened at $214.67 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a 1-year low of $141.58 and a 1-year high of $237.37. The stock has a market capitalization of $197.74 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.84 and a beta of 0.70. The business’s fifty day moving average price is $215.58 and its 200-day moving average price is $190.43.
International Business Machines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.11%. International Business Machines’s payout ratio is 73.65%.
Wall Street Analysts Forecast Growth
IBM has been the subject of several research analyst reports. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $208.12.
Check Out Our Latest Research Report on IBM
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.
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