International Business Machines Co. (NYSE:IBM) Shares Purchased by Capital Advisory Group Advisory Services LLC

Capital Advisory Group Advisory Services LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.7% in the first quarter, HoldingsChannel.com reports. The firm owned 10,484 shares of the technology company’s stock after acquiring an additional 378 shares during the quarter. Capital Advisory Group Advisory Services LLC’s holdings in International Business Machines were worth $2,607,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina grew its stake in shares of International Business Machines by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock worth $108,942,000 after acquiring an additional 4,131 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in International Business Machines during the 4th quarter worth $242,000. Truist Financial Corp lifted its holdings in shares of International Business Machines by 6.5% in the 4th quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock valued at $178,296,000 after purchasing an additional 49,591 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $3,000,000. Finally, QRG Capital Management Inc. grew its position in International Business Machines by 7.5% during the 4th quarter. QRG Capital Management Inc. now owns 150,652 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 10,467 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Up 1.5%

NYSE:IBM opened at $276.17 on Wednesday. The firm has a market capitalization of $256.67 billion, a P/E ratio of 43.08, a P/E/G ratio of 5.81 and a beta of 0.66. The business has a 50 day simple moving average of $249.27 and a 200 day simple moving average of $242.69. International Business Machines Co. has a 12-month low of $166.81 and a 12-month high of $278.31. 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 (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share 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 firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is presently 115.66%.

Analyst Ratings Changes

Several brokerages recently weighed in on IBM. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a report on Wednesday, May 7th. UBS Group reaffirmed a “sell” rating and set a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a report on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $250.31.

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.