QRG Capital Management Inc. Sells 49,311 Shares of International Business Machines Corporation $IBM

QRG Capital Management Inc. trimmed its position in International Business Machines Corporation (NYSE:IBM) by 25.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,851 shares of the technology company’s stock after selling 49,311 shares during the quarter. QRG Capital Management Inc.’s holdings in International Business Machines were worth $40,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IBM. Brighton Jones LLC lifted its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Trinity Legacy Partners LLC acquired a new stake in shares of International Business Machines during the 2nd quarter worth approximately $203,000. Sivia Capital Partners LLC increased its stake in International Business Machines by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock valued at $571,000 after acquiring an additional 186 shares during the last quarter. Focus Financial Network Inc. lifted its stake in International Business Machines by 8.2% during the second quarter. Focus Financial Network Inc. now owns 7,427 shares of the technology company’s stock worth $2,189,000 after purchasing an additional 564 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its holdings in shares of International Business Machines by 38.8% in the 2nd quarter. Signal Advisors Wealth LLC now owns 2,964 shares of the technology company’s stock valued at $874,000 after purchasing an additional 828 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $305.82 on Friday. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The stock has a market capitalization of $285.86 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.89 and a beta of 0.70. The company’s 50-day moving average is $303.46 and its 200-day moving average is $282.50. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.10 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.2%. International Business Machines’s dividend payout ratio is presently 80.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on International Business Machines from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.38.

International Business Machines Company Profile

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.