QRG Capital Management Inc. Acquires 18,033 Shares of International Business Machines Corporation $IBM

QRG Capital Management Inc. boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,162 shares of the technology company’s stock after purchasing an additional 18,033 shares during the period. QRG Capital Management Inc.’s holdings in International Business Machines were worth $56,646,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IBM. Family CFO Inc bought a new stake in International Business Machines in the second quarter worth $25,000. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the first quarter valued at about $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines during the first quarter valued at about $28,000. Dagco Inc. bought a new position in shares of International Business Machines during the first quarter valued at about $31,000. Finally, Silicon Valley Capital Partners raised its stake in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. BMO Capital Markets upped their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Finally, UBS Group upped their price objective on shares of International Business Machines from $195.00 to $200.00 and gave the company a “sell” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $284.62.

International Business Machines Price Performance

IBM stock opened at $288.62 on Friday. 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 cap of $268.25 billion, a P/E ratio of 46.85, a PEG ratio of 4.41 and a beta of 0.73. The firm has a 50-day moving average of $255.18 and a 200 day moving average of $259.22. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. International Business Machines’s revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is 109.09%.

International Business Machines 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.