VeraBank N.A. Buys New Position in International Business Machines Co. (NYSE:IBM)

VeraBank N.A. purchased a new position in shares of International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,533 shares of the technology company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Financial Advisors Inc. lifted its stake in shares of International Business Machines by 3.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 6,151 shares of the technology company’s stock valued at $1,006,000 after purchasing an additional 181 shares during the period. Sapient Capital LLC acquired a new position in International Business Machines in the fourth quarter valued at approximately $547,000. W Advisors LLC boosted its holdings in shares of International Business Machines by 13.9% during the 4th quarter. W Advisors LLC now owns 1,923 shares of the technology company’s stock worth $315,000 after buying an additional 234 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of International Business Machines by 11.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 15,357 shares of the technology company’s stock worth $2,512,000 after buying an additional 1,517 shares during the period. Finally, LSV Asset Management increased its stake in shares of International Business Machines by 8.1% in the 4th quarter. LSV Asset Management now owns 1,706,160 shares of the technology company’s stock valued at $279,042,000 after acquiring an additional 127,700 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

NYSE:IBM traded up $1.02 during trading hours on Friday, hitting $165.71. 3,400,405 shares of the company’s stock traded hands, compared to its average volume of 4,768,629. The firm has a market cap of $152.22 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.08 and a beta of 0.74. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The business’s fifty day simple moving average is $185.75 and its two-hundred day simple moving average is $171.01. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18.

International Business Machines (NYSE:IBM) last announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the business posted $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines Co. will post 9.92 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a dividend yield of 4.03%. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Analyst Ratings Changes

A number of analysts have commented on IBM shares. JPMorgan Chase & Co. decreased their price target on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada increased their price objective on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. BNP Paribas started coverage on International Business Machines in a research report on Thursday. They issued an “underperform” rating and a $145.00 price target for the company. Finally, Bank of America lifted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $181.29.

About International Business Machines

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.