QRG Capital Management Inc. Buys 11,119 Shares of International Business Machines Corporation $IBM

QRG Capital Management Inc. raised its stake in International Business Machines Corporation (NYSE:IBM) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,061 shares of the technology company’s stock after purchasing 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 (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $25,000. Family CFO Inc bought a new position in shares of International Business Machines during the 4th quarter worth approximately $25,000. Joseph Group Capital Management purchased a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Cornerstone Financial Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $28,000. Finally, SWAN Capital LLC acquired a new stake in International Business Machines in the third quarter valued at approximately $28,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 0.2%

Shares of International Business Machines stock opened at $288.95 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The firm 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. The firm’s 50 day simple moving average is $256.99 and its two-hundred day simple moving average is $266.36.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter last year, the company posted $1.60 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts predict that International Business Machines Corporation will post 12.4 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were paid a $1.69 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s dividend payout ratio (DPR) is 59.77%.

Analysts Set New Price Targets

Several equities analysts have issued reports on IBM shares. Jefferies Financial Group initiated coverage on shares of International Business Machines in a report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Roth Mkm reissued a “buy” rating on shares of International Business Machines in a research report on Wednesday, June 3rd. Wolfe Research downgraded International Business Machines to a “peer perform” rating in a research note on Tuesday, June 23rd. Needham & Company LLC started coverage on International Business Machines in a research report on Wednesday, June 3rd. They set a “buy” rating on the stock. Finally, Barclays initiated coverage on International Business Machines in a research note on Monday, June 1st. They issued an “overweight” rating and a $350.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.