International Business Machines Co. (NYSE:IBM) Stake Boosted by Veracity Capital LLC

Veracity Capital LLC raised its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 4,936 shares of the technology company’s stock after purchasing an additional 74 shares during the quarter. Veracity Capital LLC’s holdings in International Business Machines were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of IBM. FPC Investment Advisory Inc. acquired a new position in International Business Machines during the 1st quarter valued at approximately $26,000. ESL Trust Services LLC bought a new stake in International Business Machines in the first quarter valued at $28,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter worth about $36,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.3 %

Shares of NYSE:IBM opened at $232.20 on Friday. The stock has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a 1-year low of $135.87 and a 1-year high of $237.37. The company has a 50 day moving average price of $212.19 and a 200 day moving average price of $189.15. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.88%. International Business Machines’s dividend payout ratio is currently 75.65%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their price objective on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.06.

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.