Verity Asset Management Inc. Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Verity Asset Management Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 55.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,741 shares of the technology company’s stock after selling 19,273 shares during the period. International Business Machines comprises about 1.8% of Verity Asset Management Inc.’s investment portfolio, making the stock its 9th biggest position. Verity Asset Management Inc.’s holdings in International Business Machines were worth $3,429,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Hara Capital LLC acquired a new position in International Business Machines in the third quarter worth $29,000. Avondale Wealth Management grew its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in shares of International Business Machines in the fourth quarter valued at about $40,000. 58.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Sanford C. Bernstein lifted their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets boosted their price objective on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $225.53.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Price Performance

NYSE:IBM opened at $260.84 on Tuesday. The stock’s 50-day simple moving average is $226.61 and its 200 day simple moving average is $214.76. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $262.06. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $241.19 billion, a P/E ratio of 40.69, a P/E/G ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, sell-side analysts forecast that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. International Business Machines’s dividend payout ratio is presently 104.21%.

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.