State of Alaska Department of Revenue Increases Stock Holdings in International Business Machines Corporation $IBM

State of Alaska Department of Revenue increased its position in International Business Machines Corporation (NYSE:IBM) by 24.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,712 shares of the technology company’s stock after acquiring an additional 25,407 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Business Machines were worth $36,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in shares of International Business Machines during the 3rd quarter valued at $852,000. Vise Technologies Inc. bought a new position in International Business Machines in the 2nd quarter worth $16,565,000. Vanguard Group Inc. lifted its position in International Business Machines by 2.1% during the second quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock valued at $28,019,274,000 after purchasing an additional 1,913,708 shares in the last quarter. Thames Capital Management LLC bought a new stake in International Business Machines during the second quarter valued at about $2,710,000. Finally, CWM LLC increased its position in International Business Machines by 3.0% in the second quarter. CWM LLC now owns 122,623 shares of the technology company’s stock worth $36,147,000 after buying an additional 3,537 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

IBM has been the topic of a number of analyst reports. Wall Street Zen raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Jefferies Financial Group upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and raised their target price for the stock from $300.00 to $360.00 in a research note on Monday. BMO Capital Markets upped their price target on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada raised their price objective on shares of International Business Machines from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Morgan Stanley lowered their target price on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.85.

International Business Machines Trading Up 2.0%

International Business Machines stock opened at $302.69 on Friday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The firm’s 50 day moving average price is $303.61 and its 200-day moving average price is $281.94. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $282.93 billion, a P/E ratio of 36.21, a PEG ratio of 2.75 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. International Business Machines’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $2.30 earnings per share. On average, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were given a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.2%. International Business Machines’s dividend payout ratio (DPR) is presently 80.38%.

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.