International Business Machines Co. (NYSE:IBM) Shares Bought 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 International Business Machines Co. (NYSE:IBM) by 36.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,487 shares of the technology company’s stock after acquiring an additional 2,780 shares during the period. 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 filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Marks Group Wealth Management Inc boosted its stake in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company’s stock valued at $2,292,000 after acquiring an additional 45 shares in the last quarter. First Affirmative Financial Network boosted its stake in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after acquiring an additional 46 shares in the last quarter. Goldstein Advisors LLC raised its holdings in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC lifted its stake in shares of International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after buying an additional 47 shares during the period. Finally, Forza Wealth Management LLC grew its holdings in shares of International Business Machines by 0.4% during the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after buying an additional 47 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Bank of America increased their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

Shares of IBM stock opened at $262.85 on Wednesday. The company has a market capitalization 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 business’s 50 day moving average is $233.32 and its two-hundred day moving average is $220.66. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.54%. International Business Machines’s payout ratio is currently 104.21%.

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.