Caprock Group LLC Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Caprock Group LLC raised its holdings in International Business Machines Co. (NYSE:IBM) by 50.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 21,292 shares of the technology company’s stock after acquiring an additional 7,110 shares during the quarter. Caprock Group LLC’s holdings in International Business Machines were worth $3,683,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IBM. Norges Bank acquired a new stake in shares of International Business Machines during the fourth quarter worth about $1,019,009,000. Vanguard Group Inc. boosted its stake in shares of International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in shares of International Business Machines during the fourth quarter worth about $172,887,000. Finally, Strategic Financial Concepts LLC raised its holdings in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBM shares. Stifel Nicolaus boosted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on International Business Machines in a report on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. Royal Bank of Canada boosted their price objective on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $185.93.

International Business Machines Stock Down 0.9 %

Shares of International Business Machines stock opened at $200.74 on Friday. The company has a market cap of $184.40 billion, a P/E ratio of 22.73, a PEG ratio of 4.50 and a beta of 0.70. The firm has a fifty day moving average of $189.52 and a two-hundred day moving average of $182.50. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines Co. has a one year low of $135.87 and a one year high of $205.95.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts forecast that International Business Machines Co. will post 10.09 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.33%. International Business Machines’s payout ratio is 75.65%.

About International Business Machines

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.