Teacher Retirement System of Texas Has $85.44 Million Position in International Business Machines Corporation (NYSE:IBM)

by · The Cerbat Gem

Teacher Retirement System of Texas cut its position in International Business Machines Corporation (NYSE:IBMFree Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,611 shares of the technology company’s stock after selling 42,297 shares during the quarter. Teacher Retirement System of Texas’ holdings in International Business Machines were worth $85,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines in the first quarter valued at about $396,000. Treasurer of the State of North Carolina boosted its holdings in International Business Machines by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after purchasing an additional 4,131 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $3,000,000. Magnolia Private Wealth LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $239,000. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in shares of International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock worth $35,172,000 after purchasing an additional 1,058 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. UBS Group reissued a “sell” rating and set a $170.00 target price (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $257.50.

Read Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $287.79 on Thursday. The company’s 50 day moving average price is $265.93 and its two-hundred day moving average price is $248.79. The firm has a market capitalization of $267.47 billion, a P/E ratio of 49.53, a P/E/G ratio of 6.11 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a fifty-two week low of $173.95 and a fifty-two week high of $296.16.

International Business Machines (NYSE:IBMGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the business posted $1.68 EPS. International Business Machines’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. International Business Machines’s payout ratio is 115.66%.

International Business Machines Profile

(Free Report)

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.

Further Reading

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