International Business Machines Corporation $IBM Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 78,977 shares of the technology company’s stock after selling 2,761 shares during the period. Illinois Municipal Retirement Fund’s holdings in International Business Machines were worth $23,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the period. Geode Capital Management LLC boosted its holdings in shares of International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after buying an additional 336,069 shares during the period. Capital World Investors boosted its holdings in shares of International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the period. Norges Bank bought a new stake in shares of International Business Machines during the 4th quarter valued at about $2,446,429,000. Finally, Legal & General Group Plc grew its position in shares of International Business Machines by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 7,302,722 shares of the technology company’s stock valued at $2,060,536,000 after buying an additional 176,219 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Jim Cramer publicly favored IBM over Xanadu Quantum, saying investors should “buy IBM” if they want exposure to the quantum theme, which can reinforce confidence in IBM as a more credible and profitable long-term AI/quantum name. Jim Cramer Recommends IBM Over Xanadu Quantum
• Positive Sentiment: IBM announced an expanded global collaboration with JA Worldwide to deliver AI and digital-skills education to up to one million high-school students, highlighting IBM’s efforts to build ecosystem adoption and strengthen its brand in AI. JA Worldwide and IBM Expand Global Collaboration with Goal of Delivering AI and Digital Skills to Up to One Million High-School Students
• Positive Sentiment: Several articles framed IBM as a strong long-term beneficiary of the quantum-computing boom, including coverage that described IBM as a “safer play” alongside Alphabet in the sector and another piece calling IBM a long-term buy tied to its recurring-revenue software and infrastructure engine. Quantum Computing Looks Like Nvidia in 2019. This Could Be the Generational Buy of the Decade.
• Neutral Sentiment: IBM CEO Arvind Krishna’s recent comments on quantum advantage, AI usage, and the company’s profit strategy keep IBM in the AI/quantum conversation, but the remarks were more strategic than immediately financial. IBM CEO Krishna on Quantum Advantage, Profit Strategy
• Neutral Sentiment: One analyst-style article argued that Celestica may be a better AI infrastructure buy than IBM due to faster growth and a cheaper valuation, which is a reminder that IBM still faces competition for investor capital in AI hardware/infrastructure. Celestica vs. IBM: Which AI Infrastructure Stock is the Better Buy?
• Negative Sentiment: Recent 247WallSt commentary said IBM has already rallied enough that some investors may prefer to wait for a pullback, and it also noted the stock is not cheap after IBM’s large quantum investment announcement. IBM Just Placed a $10 Billion Bet to Become the Nvidia of Quantum Computing

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Morgan Stanley increased their price target on International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Needham & Company LLC began coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Finally, Jefferies Financial Group lowered their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $272.78 on Thursday. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a market cap of $256.38 billion, a PE ratio of 24.12, a P/E/G ratio of 2.87 and a beta of 0.67. The stock has a 50 day simple moving average of $248.79 and a 200-day simple moving average of $270.49. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $1.60 EPS. On average, equities research analysts forecast that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s dividend payout ratio is 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.