Veracity Capital LLC Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Veracity Capital LLC decreased its holdings in International Business Machines Co. (NYSE:IBM) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,339 shares of the technology company’s stock after selling 459 shares during the quarter. Veracity Capital LLC’s holdings in International Business Machines were worth $1,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JBR Co Financial Management Inc lifted its stake in shares of International Business Machines by 0.6% in the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 40 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its stake in shares of International Business Machines by 1.0% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company’s stock valued at $873,000 after purchasing an additional 40 shares in the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of International Business Machines by 0.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company’s stock valued at $1,396,000 after purchasing an additional 43 shares in the last quarter. Titleist Asset Management LLC lifted its stake in shares of International Business Machines by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company’s stock valued at $315,000 after purchasing an additional 43 shares in the last quarter. Finally, Callan Capital LLC lifted its stake in shares of International Business Machines by 2.4% in the 4th quarter. Callan Capital LLC now owns 1,870 shares of the technology company’s stock valued at $411,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $265.38 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $163.88 and a 52-week high of $269.28. The stock’s 50 day moving average is $247.02 and its two-hundred day moving average is $240.81. The company has a market capitalization of $246.64 billion, a PE ratio of 41.40, a P/E/G ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 EPS. International Business Machines’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.68 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.53%. International Business Machines’s payout ratio is currently 115.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IBM shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Royal Bank of Canada lifted their price objective on International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Finally, Citigroup reissued an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $249.06.

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.