QRG Capital Management Inc. Buys 10,467 Shares of International Business Machines Co. (NYSE:IBM)

QRG Capital Management Inc. raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 150,652 shares of the technology company’s stock after acquiring an additional 10,467 shares during the quarter. QRG Capital Management Inc.’s holdings in International Business Machines were worth $33,118,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Versor Investments LP acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $704,000. Proficio Capital Partners LLC boosted its position in shares of International Business Machines by 39,801.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,543 shares of the technology company’s stock valued at $129,819,000 after acquiring an additional 589,063 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of International Business Machines by 7.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 76,601 shares of the technology company’s stock valued at $16,839,000 after acquiring an additional 5,575 shares in the last quarter. WT Wealth Management acquired a new stake in shares of International Business Machines during the 4th quarter valued at about $230,000. Finally, Apriem Advisors boosted its position in shares of International Business Machines by 56.5% during the 4th quarter. Apriem Advisors now owns 2,237 shares of the technology company’s stock valued at $492,000 after acquiring an additional 808 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM stock opened at $255.62 on Thursday. The company has a market capitalization of $236.35 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 5.81 and a beta of 0.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a 50-day simple moving average of $237.20 and a 200 day simple moving average of $223.48. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s payout ratio is 104.21%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IBM. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Jefferies Financial Group boosted their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines 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.