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

Victory Capital Management Inc. raised its holdings in International Business Machines Corporation (NYSE:IBM) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,582,818 shares of the technology company’s stock after acquiring an additional 954,879 shares during the period. International Business Machines comprises 0.8% of Victory Capital Management Inc.’s holdings, making the stock its 17th biggest holding. Victory Capital Management Inc. owned approximately 0.49% of International Business Machines worth $1,357,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in International Business Machines in the fourth quarter valued at about $25,000. Family CFO Inc acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $25,000. Joseph Group Capital Management acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $28,000. SWAN Capital LLC acquired a new stake in shares of International Business Machines during the third quarter valued at about $28,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of International Business Machines during the fourth quarter valued at about $31,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $271.77 on Friday. International Business Machines Corporation has a 52-week low of $212.34 and a 52-week high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The business’s 50 day moving average price is $250.02 and its two-hundred day moving average price is $270.34. The firm has a market cap of $255.43 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.67.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 2.5%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s payout ratio is presently 59.77%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. Roth Mkm reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a research note on Thursday, May 28th. Citigroup lifted their price target on International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group cut their price objective on International Business Machines from $370.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.17.

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.