International Business Machines Co. (NYSE:IBM) Shares Purchased by Verity & Verity LLC

Verity & Verity LLC grew its position in International Business Machines Co. (NYSE:IBM) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,384 shares of the technology company’s stock after acquiring an additional 2,584 shares during the quarter. International Business Machines makes up approximately 1.9% of Verity & Verity LLC’s holdings, making the stock its 15th largest position. Verity & Verity LLC’s holdings in International Business Machines were worth $16,843,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IBM. Vanguard Group Inc. raised its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in International Business Machines by 306.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after acquiring an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Trading Down 0.8 %

International Business Machines stock opened at $219.36 on Wednesday. The company has a 50 day moving average price of $201.62 and a 200 day moving average price of $185.54. 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 Co. has a 52 week low of $135.87 and a 52 week high of $224.15. The firm has a market capitalization of $201.50 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released 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 net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 3.05%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IBM. Jefferies Financial Group upped their price target on shares of International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets raised their target price 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, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $193.38.

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.