State of New Jersey Common Pension Fund D Lowers Stock Holdings in International Business Machines Co. (NYSE:IBM)

State of New Jersey Common Pension Fund D trimmed its position in International Business Machines Co. (NYSE:IBM) by 35.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,769 shares of the technology company’s stock after selling 184,497 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in International Business Machines were worth $58,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Performance

Shares of IBM stock opened at $209.82 on Thursday. The stock has a fifty day moving average of $191.34 and a 200 day moving average of $182.99. International Business Machines Co. has a 52 week low of $135.87 and a 52 week high of $210.12. The firm has a market capitalization of $193.28 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 4.47 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 earnings per share. As a group, research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

IBM has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI increased their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada increased their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $188.60.

International Business Machines Profile

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.