International Business Machines Co. (NYSE:IBM) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc decreased its position in International Business Machines Co. (NYSE:IBM) by 29.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 153 shares of the technology company’s stock after selling 65 shares during the period. Versant Capital Management Inc’s holdings in International Business Machines were worth $27,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in International Business Machines in the first quarter valued at $26,000. Naples Money Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in shares of International Business Machines in the first quarter valued at $28,000. Creekmur Asset Management LLC purchased a new stake in shares of International Business Machines in the fourth quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.4 %

Shares of International Business Machines stock traded up $2.62 during trading hours on Wednesday, reaching $189.42. The stock had a trading volume of 823,965 shares, compared to its average volume of 4,407,400. The firm has a 50 day simple moving average of $177.23 and a two-hundred day simple moving average of $180.49. The firm has a market capitalization of $174.48 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 4.24 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The company had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the business posted $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that International Business Machines Co. will post 10.06 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $1.67 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.53%. International Business Machines’s dividend payout ratio (DPR) is currently 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the topic of several recent research reports. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Royal Bank of Canada upped their price objective on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, BNP Paribas started coverage on International Business Machines in a research report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.93.

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.