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

Veracity Capital LLC lowered its holdings in International Business Machines Co. (NYSE:IBM) by 26.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,586 shares of the technology company’s stock after selling 1,976 shares during the period. Veracity Capital LLC’s holdings in International Business Machines were worth $1,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Whelan Financial purchased a new stake in shares of International Business Machines in the 1st quarter worth about $251,000. Powers Advisory Group LLC purchased a new stake in International Business Machines during the first quarter valued at approximately $204,000. Spinnaker Investment Group LLC purchased a new position in shares of International Business Machines during the 1st quarter valued at about $224,000. Uncommon Cents Investing LLC lifted its stake in shares of International Business Machines by 7.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 8,248 shares of the technology company’s stock valued at $1,575,000 after buying an additional 565 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in International Business Machines by 11.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 24,383 shares of the technology company’s stock worth $4,656,000 after purchasing an additional 2,499 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM traded down $1.57 on Thursday, hitting $175.73. The company had a trading volume of 1,649,049 shares, compared to its average volume of 3,576,998. The company’s fifty day moving average price is $169.55 and its 200 day moving average price is $176.76. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. International Business Machines Co. has a 1-year low of $131.55 and a 1-year high of $199.18. The stock has a market cap of $161.43 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.71.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $1.36 earnings per share. Equities analysts predict that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $1.67 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a dividend yield of 3.80%. International Business Machines’s payout ratio is 75.65%.

Analyst Ratings Changes

Several research analysts recently commented on IBM shares. BNP Paribas assumed coverage on shares of International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Sanford C. Bernstein raised their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. Finally, BMO Capital Markets decreased their price target on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines 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.