Veery Capital LLC Sells 143 Shares of International Business Machines Corporation $IBM

Veery Capital LLC decreased its position in shares of International Business Machines Corporation (NYSE:IBM) by 13.1% during the second quarter, Holdings Channel.com reports. The fund owned 948 shares of the technology company’s stock after selling 143 shares during the quarter. Veery Capital LLC’s holdings in International Business Machines were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Edge Capital LLC raised its position in shares of International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock valued at $1,685,000 after purchasing an additional 39 shares during the period. Tacita Capital Inc increased its stake in International Business Machines by 20.8% in the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 40 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 0.9% during the first quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company’s stock valued at $1,195,000 after acquiring an additional 42 shares during the period. DMC Group LLC lifted its position in shares of International Business Machines by 1.2% in the first quarter. DMC Group LLC now owns 3,517 shares of the technology company’s stock valued at $875,000 after acquiring an additional 42 shares in the last quarter. Finally, Fidato Wealth LLC boosted its stake in shares of International Business Machines by 2.4% in the first quarter. Fidato Wealth LLC now owns 1,824 shares of the technology company’s stock worth $454,000 after acquiring an additional 42 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research analyst reports. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Wall Street Zen raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $270.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus boosted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $270.67.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $253.46 on Friday. The firm has a fifty day simple moving average of $257.59 and a two-hundred day simple moving average of $256.94. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $296.16. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $235.56 billion, a P/E ratio of 41.15, a PEG ratio of 3.96 and a beta of 0.71.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter last year, the firm earned $2.43 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is currently 109.09%.

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.