QRG Capital Management Inc. Increases Position in International Business Machines Corporation $IBM

QRG Capital Management Inc. boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 10.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 192,162 shares of the technology company’s stock after purchasing an additional 18,033 shares during the quarter. QRG Capital Management Inc.’s holdings in International Business Machines were worth $56,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MinichMacGregor Wealth Management LLC purchased a new stake in shares of International Business Machines during the first quarter valued at approximately $396,000. Brooklyn Investment Group grew its holdings in shares of International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after buying an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA grew its holdings in shares of International Business Machines by 5.7% during the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after buying an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC grew its holdings in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock valued at $4,392,000 after buying an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC grew its holdings in shares of International Business Machines by 47.0% during the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock valued at $1,867,000 after buying an additional 2,399 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IBM. Bank of America cut their price target on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. The Goldman Sachs Group raised their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a report on Monday, July 7th. Sanford C. Bernstein began coverage on shares of International Business Machines in a report on Monday, September 15th. They issued a “market perform” rating and a $280.00 target price on the stock. Finally, UBS Group raised their target price on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $284.62.

International Business Machines Stock Up 0.7%

IBM opened at $288.62 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The company has a market capitalization of $268.25 billion, a PE ratio of 46.85, a PEG ratio of 4.41 and a beta of 0.73. The firm’s 50 day simple moving average is $255.18 and its two-hundred day simple moving average is $259.22.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same period last year, the firm earned $2.43 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio (DPR) is presently 109.09%.

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.