Capital Financial Group Inc. Co. ADV Takes Position in International Business Machines Corporation $IBM

Key Points

• Capital Financial Group Inc. Co. ADV disclosed a new position in IBM during the fourth quarter, buying 6,411 shares valued at about $1.9 million. The stake represents roughly 1.1% of the firm’s portfolio.
• IBM continues to attract major institutional interest, with large investors like Norges Bank, Capital World Investors, and Vanguard Group increasing or initiating positions. Overall, 58.96% of IBM’s stock is held by institutional investors.
• Analysts remain broadly positive on IBM, with a consensus rating of “Moderate Buy” and an average price target of $304.17. The company also recently beat quarterly earnings and revenue estimates and raised its dividend to $1.69 per share quarterly.

Capital Financial Group Inc. Co. ADV purchased a new stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,411 shares of the technology company's stock, valued at approximately $1,899,000. International Business Machines accounts for approximately 1.1% of Capital Financial Group Inc. Co. ADV's portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of IBM. Norges Bank bought a new stake in shares of International Business Machines during the fourth quarter valued at about $2,446,429,000. Capital World Investors raised its holdings in International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock worth $6,523,720,000 after buying an additional 4,976,756 shares during the period. Vanguard Group Inc. grew its stake in International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock valued at $28,796,390,000 after acquiring an additional 1,439,824 shares in the last quarter. Victory Capital Management Inc. grew its stake in International Business Machines by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 4,582,818 shares of the technology company's stock valued at $1,357,478,000 after acquiring an additional 954,879 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in International Business Machines by 39.6% during the 3rd quarter. First Trust Advisors LP now owns 3,052,880 shares of the technology company's stock valued at $861,401,000 after acquiring an additional 865,253 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on IBM shares. JPMorgan Chase & Co. lowered their price target on International Business Machines from $317.00 to $283.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Weiss Ratings upgraded International Business Machines from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Roth Mkm reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, June 3rd. BMO Capital Markets lowered their price target on International Business Machines from $290.00 to $270.00 and set a "market perform" rating on the stock in a research report on Thursday, April 23rd. Finally, DZ Bank upgraded International Business Machines from a "hold" rating to a "buy" rating and set a $295.00 target price for the company in a research note on Friday, April 24th. 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $304.17.

International Business Machines Trading Down 1.5%

NYSE IBM opened at $268.19 on Tuesday. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The stock's 50-day moving average is $250.42 and its 200-day moving average is $269.84. The firm has a market cap of $252.07 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.82 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 EPS. Sell-side analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $1.69 dividend. This is a boost from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.5%. International Business Machines's dividend payout ratio (DPR) is currently 59.77%.

International Business Machines Company Profile

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.