C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $44.63 Million Holdings in International Business Machines Co. (NYSE:IBM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in International Business Machines Co. (NYSE:IBM) by 2,534.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,027 shares of the technology company’s stock after buying an additional 195,320 shares during the period. International Business Machines makes up 2.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 11th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in International Business Machines were worth $44,631,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Naples Global Advisors LLC raised its position in shares of International Business Machines by 1.0% in the 4th quarter. Naples Global Advisors LLC now owns 16,576 shares of the technology company’s stock worth $3,644,000 after acquiring an additional 156 shares in the last quarter. Louisbourg Investments Inc. grew its stake in International Business Machines by 74.9% during the fourth quarter. Louisbourg Investments Inc. now owns 432 shares of the technology company’s stock worth $95,000 after purchasing an additional 185 shares during the period. Marks Group Wealth Management Inc increased its holdings 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 worth $2,292,000 after purchasing an additional 45 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in International Business Machines by 2.3% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,805 shares of the technology company’s stock valued at $1,716,000 after buying an additional 179 shares during the period. Finally, TFB Advisors LLC boosted its holdings in shares of International Business Machines by 22.2% during the 4th quarter. TFB Advisors LLC now owns 1,122 shares of the technology company’s stock worth $247,000 after buying an additional 204 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM opened at $255.86 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The company has a fifty day moving average price of $230.70 and a 200-day moving average price of $218.22. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The firm has a market cap of $236.58 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 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%. As a group, equities research analysts predict that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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 paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Analysts Set New Price Targets

Several analysts have recently weighed in on IBM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. UBS Group increased their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $231.44.

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.