Veracity Capital LLC Sells 138 Shares of International Business Machines Co. (NYSE:IBM)

Veracity Capital LLC lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,798 shares of the technology company’s stock after selling 138 shares during the period. Veracity Capital LLC’s holdings in International Business Machines were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. Legal & General Group Plc lifted its stake in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after acquiring an additional 330,694 shares during the period. Ameriprise Financial Inc. grew its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares in the last quarter. FMR LLC increased its position in International Business Machines by 6.0% during the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the period. Finally, Swiss National Bank lifted its position in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the period. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IBM. Stifel Nicolaus upped their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $220.73.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

International Business Machines Price Performance

Shares of IBM opened at $225.63 on Friday. The company has a market capitalization of $208.63 billion, a P/E ratio of 32.84, a P/E/G ratio of 4.80 and a beta of 0.74. The business’s 50-day moving average is $223.60 and its two-hundred day moving average is $211.90. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts predict that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s payout ratio is 97.23%.

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.