C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 195,320 Shares of International Business Machines Co. (NYSE:IBM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of International Business Machines Co. (NYSE:IBM) by 2,534.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 203,027 shares of the technology company’s stock after buying an additional 195,320 shares during the quarter. International Business Machines comprises about 2.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ portfolio, making the stock its 11th largest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in International Business Machines were worth $44,631,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of IBM. International Assets Investment Management LLC lifted its holdings in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter valued at about $573,306,000. State Street Corp increased its position in International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. KBC Group NV boosted its holdings in International Business Machines by 90.4% in the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in shares of International Business Machines by 23,311.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock valued at $153,262,000 after buying an additional 694,204 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

International Business Machines stock opened at $255.86 on Thursday. The business has a 50 day moving average of $230.70 and a 200-day moving average of $218.22. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The company has a market capitalization of $236.58 billion, a P/E ratio of 39.92, a P/E/G ratio of 5.57 and a beta of 0.76.

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

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. The ex-dividend date is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

Several equities analysts have weighed in on IBM shares. Morgan Stanley lifted their price objective on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Oppenheimer assumed coverage on shares of International Business Machines in a research report on Tuesday. They set an “outperform” rating and a $320.00 price objective for the company. Bank of America raised their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

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.