Texas Permanent School Fund Corp Has $36.12 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Texas Permanent School Fund Corp raised its position in International Business Machines Co. (NYSE:IBM) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 189,142 shares of the technology company’s stock after buying an additional 611 shares during the period. Texas Permanent School Fund Corp’s holdings in International Business Machines were worth $36,119,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IBM. Howland Capital Management LLC boosted its position in shares of International Business Machines by 1.0% in the 1st quarter. Howland Capital Management LLC now owns 8,319 shares of the technology company’s stock worth $1,589,000 after purchasing an additional 84 shares during the last quarter. Buck Wealth Strategies LLC bought a new position in shares of International Business Machines in the 1st quarter worth $3,127,000. Team Hewins LLC boosted its position in shares of International Business Machines by 3.8% in the 1st quarter. Team Hewins LLC now owns 5,963 shares of the technology company’s stock worth $1,139,000 after purchasing an additional 219 shares during the last quarter. Csenge Advisory Group boosted its position in shares of International Business Machines by 3.6% in the 1st quarter. Csenge Advisory Group now owns 12,331 shares of the technology company’s stock worth $2,355,000 after purchasing an additional 423 shares during the last quarter. Finally, Capital Management Associates NY boosted its position in shares of International Business Machines by 11.1% in the 1st quarter. Capital Management Associates NY now owns 5,000 shares of the technology company’s stock worth $955,000 after purchasing an additional 500 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on IBM shares. UBS Group lifted their target price on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Morgan Stanley reduced their target price on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. BMO Capital Markets reduced their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Bank of America lifted their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, BNP Paribas began coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $182.53.

International Business Machines Stock Performance

NYSE IBM traded up $0.45 during trading on Thursday, reaching $178.29. 2,806,788 shares of the company’s stock were exchanged, compared to its average volume of 4,450,637. The business has a 50 day moving average price of $170.54 and a 200-day moving average price of $177.29. The stock has a market capitalization of $163.78 billion, a P/E ratio of 20.21, a PEG ratio of 4.38 and a beta of 0.71. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a fifty-two week low of $132.57 and a fifty-two week high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s payout ratio is currently 75.65%.

About International Business Machines

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.