International Business Machines Co. (NYSE:IBM) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,102 shares of the technology company’s stock after purchasing an additional 241 shares during the period. Verdence Capital Advisors LLC’s holdings in International Business Machines were worth $4,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockbridge Investment Management LCC boosted its position in shares of International Business Machines by 22.3% during the 3rd quarter. Rockbridge Investment Management LCC now owns 1,758 shares of the technology company’s stock valued at $389,000 after purchasing an additional 320 shares in the last quarter. Pegasus Partners Ltd. bought a new stake in International Business Machines during the third quarter worth approximately $208,000. Rovin Capital UT ADV acquired a new position in International Business Machines in the third quarter worth approximately $237,000. United Bank increased its holdings in shares of International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock valued at $1,244,000 after buying an additional 1,956 shares in the last quarter. Finally, Windward Capital Management Co. CA lifted its position in shares of International Business Machines by 0.9% during the 3rd quarter. Windward Capital Management Co. CA now owns 23,914 shares of the technology company’s stock valued at $5,287,000 after acquiring an additional 202 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Morgan Stanley decreased their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.12.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $213.66 on Friday. The firm has a market cap of $197.56 billion, a P/E ratio of 31.10, a PEG ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The stock’s 50-day moving average is $218.02 and its two-hundred day moving average is $192.24.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 earnings per share. Analysts predict that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

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.