Victory Capital Management Inc. Purchases 954,879 Shares of International Business Machines Corporation $IBM

Victory Capital Management Inc. increased its position in International Business Machines Corporation (NYSE:IBM) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,582,818 shares of the technology company’s stock after purchasing an additional 954,879 shares during the period. International Business Machines makes up 0.8% of Victory Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Victory Capital Management Inc.’s holdings in International Business Machines were worth $1,357,478,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Family CFO Inc bought a new stake in International Business Machines during the 4th quarter valued at $25,000. Basepoint Wealth LLC bought a new stake in International Business Machines during the 4th quarter valued at $25,000. Joseph Group Capital Management bought a new stake in International Business Machines during the 4th quarter valued at $28,000. SWAN Capital LLC bought a new stake in International Business Machines during the 3rd quarter valued at $28,000. Finally, DecisionPoint Financial LLC increased its stake in International Business Machines by 1,666.7% during the 4th quarter. DecisionPoint Financial LLC now owns 106 shares of the technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IBM shares. Roth Mkm restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Stifel Nicolaus set a $290.00 price target on shares of International Business Machines in a research note on Friday, May 22nd. Jefferies Financial Group decreased their price target on shares of International Business Machines from $370.00 to $320.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Trading Down 1.1%

Shares of International Business Machines stock opened at $271.77 on Friday. The stock has a fifty day simple moving average of $250.02 and a 200 day simple moving average of $270.34. International Business Machines Corporation has a 12-month low of $212.34 and a 12-month high of $332.46. The company has a market capitalization of $255.43 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.67. 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 (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. International Business Machines’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines Corporation will post 12.38 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 2.5%. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines’s dividend payout ratio is currently 59.77%.

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.