Verdence Capital Advisors LLC Acquires 110 Shares of International Business Machines Corporation (NYSE:IBM)

Verdence Capital Advisors LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,869 shares of the technology company’s stock after acquiring an additional 110 shares during the quarter. Verdence Capital Advisors LLC’s holdings in International Business Machines were worth $4,692,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IBM. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. Park Square Financial Group LLC bought a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. Mascagni Wealth Management Inc. bought a new position in shares of International Business Machines during the 4th quarter valued at about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines during the 1st quarter valued at about $45,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 0.4%

Shares of NYSE:IBM opened at $281.68 on Thursday. International Business Machines Corporation has a 52-week low of $181.81 and a 52-week high of $296.16. The firm has a market capitalization of $261.79 billion, a P/E ratio of 48.48, a P/E/G ratio of 5.94 and a beta of 0.69. The stock has a 50 day moving average price of $275.10 and a 200-day moving average price of $253.14. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The firm had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

Analyst Ratings Changes

Several equities analysts have recently commented on IBM shares. BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Citigroup restated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group restated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Royal Bank Of Canada increased their target price on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, International Business Machines has an average rating of “Moderate Buy” and an average target price of $263.06.

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.