Verdence Capital Advisors LLC Acquires 241 Shares of International Business Machines Co. (NYSE:IBM)

Verdence Capital Advisors LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. PFG Advisors increased its stake in International Business Machines by 8.1% during the first quarter. PFG Advisors now owns 5,629 shares of the technology company’s stock valued at $1,075,000 after acquiring an additional 422 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of International Business Machines by 22.3% in the first quarter. Illinois Municipal Retirement Fund now owns 64,019 shares of the technology company’s stock valued at $12,225,000 after purchasing an additional 11,672 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its position in International Business Machines by 8.1% in the first quarter. Reynders McVeigh Capital Management LLC now owns 102,610 shares of the technology company’s stock worth $19,595,000 after purchasing an additional 7,681 shares during the period. Atomi Financial Group Inc. boosted its stake in International Business Machines by 5.1% during the first quarter. Atomi Financial Group Inc. now owns 19,893 shares of the technology company’s stock worth $3,799,000 after buying an additional 967 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of International Business Machines by 10.6% in the 1st quarter. Sei Investments Co. now owns 211,017 shares of the technology company’s stock valued at $40,294,000 after buying an additional 20,142 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Trading Down 0.0 %

IBM opened at $213.66 on Friday. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The company has a market cap of $197.56 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth 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. The firm has a 50 day simple moving average of $218.02 and a 200 day simple moving average of $192.24.

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

International Business Machines Dividend Announcement

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

Analyst Ratings Changes

IBM has been the topic of a number of analyst reports. Bernstein Bank upped their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Bank of America raised their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI increased their price objective 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. Finally, Morgan Stanley reduced their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $208.12.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 owns 25,390 shares in the company, valued at $5,463,928. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by insiders.

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.