Retirement Systems of Alabama Sells 83,032 Shares of International Business Machines Corporation $IBM

Retirement Systems of Alabama decreased its holdings in International Business Machines Corporation (NYSE:IBM) by 12.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 590,131 shares of the technology company’s stock after selling 83,032 shares during the period. International Business Machines accounts for about 0.6% of Retirement Systems of Alabama’s portfolio, making the stock its 23rd biggest holding. Retirement Systems of Alabama’s holdings in International Business Machines were worth $173,959,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBM. Brooklyn Investment Group lifted its position in shares of International Business Machines by 32.7% in the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock worth $1,647,000 after buying an additional 1,630 shares in the last quarter. Edgar Lomax Co. VA lifted its position in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock worth $58,676,000 after buying an additional 12,690 shares in the last quarter. Left Brain Wealth Management LLC lifted its position in shares of International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after buying an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after buying an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its position in shares of International Business Machines by 5.6% in the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company’s stock worth $15,434,000 after buying an additional 3,276 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.4%

Shares of NYSE IBM opened at $308.17 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.89 and a current ratio of 0.93. The business’s 50 day moving average price is $270.43 and its 200-day moving average price is $265.70. International Business Machines Corporation has a fifty-two week low of $203.51 and a fifty-two week high of $319.35. The company has a market cap of $288.05 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 4.39 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the business posted $2.30 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines’s dividend payout ratio is presently 80.38%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of research analyst reports. Wall Street Zen upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Sunday. Erste Group Bank lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. BMO Capital Markets raised their price objective on International Business Machines from $300.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, Sanford C. Bernstein initiated coverage on International Business Machines in a research note on Monday, September 15th. They issued a “market perform” rating and a $280.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus target price of $288.00.

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.