Verity & Verity LLC Has $16.84 Million Holdings in International Business Machines Co. (NYSE:IBM)

Verity & Verity LLC increased its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,384 shares of the technology company's stock after purchasing an additional 2,584 shares during the quarter. International Business Machines comprises about 1.9% of Verity & Verity LLC's portfolio, making the stock its 15th biggest holding. Verity & Verity LLC's holdings in International Business Machines were worth $16,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Heritage Wealth Management Inc. acquired a new stake in shares of International Business Machines during the second quarter worth $1,468,000. Lazari Capital Management Inc. raised its holdings in International Business Machines by 9.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 1,973 shares of the technology company's stock worth $341,000 after buying an additional 174 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of International Business Machines in the second quarter worth about $40,068,000. Creekside Partners purchased a new position in shares of International Business Machines in the second quarter worth approximately $584,000. Finally, Farmers National Bank raised its holdings in shares of International Business Machines by 11.0% during the second quarter. Farmers National Bank now owns 22,715 shares of the technology company's stock valued at $3,929,000 after acquiring an additional 2,247 shares during the period. Institutional investors own 58.96% of the company's stock.

International Business Machines Price Performance

IBM traded up $0.33 during trading on Wednesday, hitting $219.68. 3,341,175 shares of the stock traded hands, compared to its average volume of 4,227,925. The business has a 50 day moving average price of $201.62 and a 200 day moving average price of $185.54. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $224.15. The company has a market cap of $201.80 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 EPS. Equities research analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.04%. International Business Machines's payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IBM shares. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the company a "hold" rating in a report on Thursday, July 25th. BMO Capital Markets increased their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a "market perform" rating in a research note on Thursday, July 25th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Wednesday, June 19th. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Royal Bank of Canada upped their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $193.38.

International Business Machines Company 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.