QRG Capital Management Inc. Purchases 23,477 Shares of International Business Machines Co. (NYSE:IBM)

QRG Capital Management Inc. boosted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,129 shares of the technology company's stock after acquiring an additional 23,477 shares during the period. QRG Capital Management Inc.'s holdings in International Business Machines were worth $43,299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IBM. Capital World Investors boosted its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock worth $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $1,236,176,000. GAMMA Investing LLC lifted its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of International Business Machines in the fourth quarter valued at approximately $592,746,000. Finally, Northern Trust Corp lifted its holdings in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IBM shares. UBS Group restated a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Morgan Stanley dropped their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $250.31.

International Business Machines Stock Performance

NYSE:IBM opened at $276.84 on Monday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $167.50 and a 1 year high of $283.06. The company has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a P/E/G ratio of 5.81 and a beta of 0.66. The business has a fifty day simple moving average of $252.60 and a two-hundred day simple moving average of $243.90.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The business had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. The firm's quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given 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 2.43%. International Business Machines's dividend payout ratio is currently 115.66%.

International Business Machines Company Profile

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.

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