State of New Jersey Common Pension Fund D Purchases 1,962 Shares of International Business Machines Co. (NYSE:IBM)

State of New Jersey Common Pension Fund D lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 515,212 shares of the technology company’s stock after purchasing an additional 1,962 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in International Business Machines were worth $84,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter worth about $28,000. Briaud Financial Planning Inc bought a new position in International Business Machines in the 3rd quarter worth about $31,000. Stone House Investment Management LLC increased its stake in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its holdings in shares of International Business Machines by 67.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock worth $32,000 after purchasing an additional 91 shares in the last quarter. Finally, Cordant Inc. boosted its holdings in shares of International Business Machines by 753.3% in the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock worth $42,000 after purchasing an additional 226 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.0 %

IBM stock traded down $1.71 on Friday, reaching $167.20. 8,982,844 shares of the company traded hands, compared to its average volume of 5,007,767. The firm has a fifty day simple moving average of $188.00 and a 200-day simple moving average of $169.97. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a one year low of $120.55 and a one year high of $199.18. The company has a market cap of $153.28 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 annualized dividend and a yield of 3.97%. International Business Machines’s dividend payout ratio (DPR) is presently 75.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America increased their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus restated a “buy” rating and set a $190.00 target price on shares of International Business Machines in a report on Wednesday, April 17th. UBS Group increased their target price on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a report on Monday. Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a report on Friday, January 5th. Finally, Royal Bank of Canada increased their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $184.08.

International Business Machines Company 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.