Edge Capital Group LLC Increases Position in International Business Machines Co. (NYSE:IBM)

Edge Capital Group LLC grew its stake in International Business Machines Co. (NYSE:IBM – Get Rating) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,563 shares of the technology company’s stock after acquiring an additional 1,113 shares during the quarter. Edge Capital Group LLC’s holdings in International Business Machines were worth $610,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IBM. Nordea Investment Management AB increased its holdings in shares of International Business Machines by 92.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock valued at $956,458,000 after acquiring an additional 3,290,542 shares during the period. BlackRock Inc. grew its stake in International Business Machines by 1.1% during the 3rd quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock worth $8,964,901,000 after buying an additional 722,962 shares during the last quarter. First Horizon Advisors Inc. grew its stake in International Business Machines by 490.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 758,286 shares of the technology company’s stock worth $58,434,000 after buying an additional 629,916 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in International Business Machines by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,610,624 shares of the technology company’s stock worth $640,574,000 after buying an additional 439,743 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in International Business Machines by 13.7% during the 3rd quarter. Deutsche Bank AG now owns 3,413,011 shares of the technology company’s stock worth $474,169,000 after buying an additional 412,405 shares during the last quarter. Institutional investors and hedge funds own 54.91% of the company’s stock.

Several research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on International Business Machines from $153.00 to $155.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 25th. Stifel Nicolaus dropped their target price on International Business Machines from $151.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 15th. Evercore ISI assumed coverage on International Business Machines in a research note on Thursday, December 2nd. They set a “positive” rating and a $125.00 target price on the stock. Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating and set a $132.00 price target for the company in a research report on Friday, December 17th. Finally, The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Sunday, January 9th. They set a “neutral” rating and a $140.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $146.45.

Shares of IBM stock opened at $128.76 on Friday. The stock has a market cap of $115.80 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The business has a 50-day simple moving average of $129.68 and a 200-day simple moving average of $130.16. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 2.36. International Business Machines Co. has a 52-week low of $114.56 and a 52-week high of $152.84.

International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Monday, January 24th. The technology company reported $3.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.39 by ($0.04). The company had revenue of $16.70 billion during the quarter, compared to analyst estimates of $15.96 billion. International Business Machines had a net margin of 8.11% and a return on equity of 42.49%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $2.07 EPS. Sell-side analysts anticipate that International Business Machines Co. will post 10.09 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Friday, February 11th were issued a $1.64 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $6.56 dividend on an annualized basis and a yield of 5.09%. International Business Machines’s payout ratio is 103.31%.

About International Business Machines (Get Rating)

International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.

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