KBC Group NV Boosts Position in International Business Machines Corporation (NYSE:IBM)

KBC Group NV increased its stake in International Business Machines Corporation (NYSE:IBM) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,832,801 shares of the technology company’s stock after purchasing an additional 145,548 shares during the period. International Business Machines makes up approximately 1.4% of KBC Group NV’s portfolio, making the stock its 9th biggest holding. KBC Group NV owned approximately 0.20% of International Business Machines worth $455,744,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IBM. MinichMacGregor Wealth Management LLC bought a new position in International Business Machines during the first quarter valued at approximately $396,000. Treasurer of the State of North Carolina grew its position in International Business Machines by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company’s stock valued at $108,942,000 after acquiring an additional 4,131 shares during the last quarter. Mufg Securities Americas Inc. bought a new position in International Business Machines during the fourth quarter valued at approximately $3,000,000. Magnolia Private Wealth LLC bought a new position in International Business Machines during the first quarter valued at approximately $239,000. Finally, Ferguson Wellman Capital Management Inc. grew its position in International Business Machines by 0.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company’s stock valued at $35,172,000 after acquiring an additional 1,058 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Performance

NYSE:IBM opened at $289.69 on Friday. The stock has a market cap of $269.24 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66. The firm’s fifty day simple moving average is $262.93 and its 200 day simple moving average is $247.66. International Business Machines Corporation has a twelve month low of $173.38 and a twelve month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion for the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts predict that International Business Machines Corporation will post 10.78 EPS 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 $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.32%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s payout ratio is currently 115.66%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Bank of America raised their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Royal Bank Of Canada raised their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus target price of $253.75.

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.