Verity & Verity LLC Sells 36,669 Shares of International Business Machines Co. (NYSE:IBM)

Verity & Verity LLC cut its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,288 shares of the technology company's stock after selling 36,669 shares during the quarter. International Business Machines accounts for 1.6% of Verity & Verity LLC's portfolio, making the stock its 29th largest holding. Verity & Verity LLC's holdings in International Business Machines were worth $17,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Quintet Private Bank Europe S.A. boosted its stake in shares of International Business Machines by 32.1% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,968 shares of the technology company's stock worth $738,000 after acquiring an additional 722 shares in the last quarter. RMR Wealth Builders boosted its stake in shares of International Business Machines by 3.3% during the 1st quarter. RMR Wealth Builders now owns 8,352 shares of the technology company's stock worth $2,077,000 after acquiring an additional 263 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of International Business Machines by 5.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 91,537 shares of the technology company's stock worth $22,761,000 after acquiring an additional 4,741 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of International Business Machines by 0.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 141,448 shares of the technology company's stock worth $35,172,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Defined Financial Planning LLC boosted its stake in shares of International Business Machines by 9.8% during the 1st quarter. Defined Financial Planning LLC now owns 1,548 shares of the technology company's stock worth $388,000 after acquiring an additional 138 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Stock Down 1.5%

NYSE IBM traded down $4.20 during trading on Friday, hitting $276.84. 3,242,911 shares of the company traded hands, compared to its average volume of 4,237,292. International Business Machines Co. has a 12 month low of $167.50 and a 12 month high of $283.06. The business has a fifty day simple moving average of $252.60 and a 200 day simple moving average of $243.78. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $257.29 billion, a P/E ratio of 43.19, a PEG ratio of 5.81 and a beta of 0.66.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period last year, the company earned $1.68 earnings per share. The business's revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.43%. International Business Machines's payout ratio is presently 115.66%.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBM. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reiterated a "sell" rating and set a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, Bank of America lifted their price objective on International Business Machines from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $250.31.

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.