CoreCap Advisors LLC Has $4.01 Million Position in International Business Machines Co. (NYSE:IBM)

CoreCap Advisors LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 35.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,511 shares of the technology company’s stock after buying an additional 6,351 shares during the period. CoreCap Advisors LLC’s holdings in International Business Machines were worth $4,009,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisor L.P raised its holdings in International Business Machines by 97.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after purchasing an additional 127,093 shares during the last quarter. Roundview Capital LLC bought a new stake in International Business Machines during the 1st quarter valued at $203,000. Sei Investments Co. increased its stake in International Business Machines by 35.7% during the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock valued at $23,157,000 after purchasing an additional 46,756 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock valued at $12,438,000 after purchasing an additional 1,821 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in International Business Machines by 1.5% during the 1st quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after purchasing an additional 5,506 shares in the last quarter. 56.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of International Business Machines from $155.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Jefferies Financial Group started coverage on shares of International Business Machines in a report on Friday, January 5th. They set a “hold” rating and a $180.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Sanford C. Bernstein boosted their price target on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $176.85.

International Business Machines Trading Down 0.6 %

Shares of NYSE:IBM traded down $1.06 during trading on Friday, reaching $190.84. 3,988,398 shares of the company traded hands, compared to its average volume of 5,099,540. The firm has a market capitalization of $174.95 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 3.76 and a beta of 0.70. International Business Machines Co. has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The business’s fifty day moving average is $184.91 and its 200-day moving average is $162.90.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company had revenue of $17.38 billion for the quarter, compared to analyst estimates of $17.29 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, analysts forecast that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

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.