QRG Capital Management Inc. Raises Stake in International Business Machines Corporation $IBM

QRG Capital Management Inc. increased its holdings in International Business Machines Corporation (NYSE:IBM) by 7.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 162,061 shares of the technology company’s stock after buying an additional 11,119 shares during the period. QRG Capital Management Inc.’s holdings in International Business Machines were worth $39,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IBM. Brighton Jones LLC increased its stake in shares of International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of International Business Machines by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after purchasing an additional 186 shares during the last quarter. Jump Financial LLC acquired a new position in International Business Machines during the second quarter valued at $211,000. Ieq Capital LLC lifted its position in International Business Machines by 2.2% during the second quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock valued at $11,383,000 after purchasing an additional 843 shares during the period. Finally, Vivaldi Capital Management LP boosted its holdings in International Business Machines by 11.6% in the second quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock valued at $300,000 after purchasing an additional 106 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.2%

IBM opened at $288.95 on Friday. The company has a fifty day moving average of $256.99 and a two-hundred day moving average of $266.36. The stock has a market capitalization of $271.58 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.00 and a beta of 0.68. International Business Machines Corporation has a fifty-two week low of $212.34 and a fifty-two week high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same period in the prior year, the company posted $1.60 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts expect that International Business Machines Corporation will post 12.4 earnings per share for the current 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 issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. International Business Machines’s payout ratio is currently 59.77%.

Analyst Ratings Changes

Several equities research analysts have weighed in on IBM shares. Roth Mkm reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. BMO Capital Markets lowered their target price on International Business Machines from $290.00 to $270.00 and set a “market perform” rating on the stock in a research note on Thursday, April 23rd. Stifel Nicolaus set a $290.00 target price on International Business Machines in a report on Friday, May 22nd. JPMorgan Chase & Co. upgraded International Business Machines from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $270.00 to $291.00 in a research report on Tuesday, June 23rd. Finally, Morgan Stanley raised International Business Machines from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and a consensus price target of $306.76.

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.