Veery Capital LLC Acquires Shares of 1,092 International Business Machines Co. (NYSE:IBM)

Veery Capital LLC purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,092 shares of the technology company’s stock, valued at approximately $241,000.

A number of other large investors have also added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. boosted its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC purchased a new position in shares of International Business Machines during the third quarter valued at approximately $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter worth $36,000. Wolff Wiese Magana LLC boosted its stake in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of International Business Machines during the third quarter valued at approximately $43,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $204.99 on Friday. International Business Machines Co. has a 52 week low of $152.13 and a 52 week high of $237.37. The firm has a market capitalization of $189.54 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a fifty day simple moving average of $218.79 and a two-hundred day simple moving average of $193.67. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts anticipate that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.26%. International Business Machines’s payout ratio is presently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Morgan Stanley dropped their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. Finally, BMO Capital Markets upped their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $208.12.

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.