International Business Machines Co. (NYSE:IBM) Shares Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of International Business Machines Co. (NYSE:IBM) by 36.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,487 shares of the technology company’s stock after acquiring an additional 2,780 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in International Business Machines were worth $2,305,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IBM. Compass Financial Services Inc acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its holdings in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of International Business Machines in the third quarter valued at approximately $29,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent research reports. UBS Group increased their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. BMO Capital Markets raised their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 0.6 %

IBM opened at $262.85 on Wednesday. International Business Machines Co. has a 52 week low of $162.62 and a 52 week high of $265.72. The business has a fifty day simple moving average of $233.32 and a 200-day simple moving average of $220.66. The firm has a market cap of $243.04 billion, a P/E ratio of 41.01, a P/E/G ratio of 5.57 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities analysts expect that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.54%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

International Business Machines Company 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.