Verus Financial Partners Inc. Sells 132 Shares of International Business Machines Corporation $IBM

Verus Financial Partners Inc. cut its stake in shares of International Business Machines Corporation (NYSE:IBM) by 2.0% in the second quarter, HoldingsChannel reports. The fund owned 6,483 shares of the technology company’s stock after selling 132 shares during the period. Verus Financial Partners Inc.’s holdings in International Business Machines were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. MinichMacGregor Wealth Management LLC bought a new position in shares of International Business Machines during the 1st quarter valued at approximately $396,000. Brooklyn Investment Group grew its stake in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company’s stock valued at $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA grew its stake in shares of International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company’s stock valued at $58,676,000 after acquiring an additional 12,690 shares during the period. Left Brain Wealth Management LLC boosted its stake in International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company’s stock worth $4,392,000 after purchasing an additional 16,592 shares during the period. Finally, Alpha Cubed Investments LLC boosted its stake in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company’s stock worth $1,867,000 after purchasing an additional 2,399 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Melius Research upgraded International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their price target on International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Erste Group Bank downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.62.

International Business Machines Stock Up 0.2%

NYSE IBM opened at $287.05 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $266.78 billion, a P/E ratio of 46.60, a P/E/G ratio of 4.41 and a beta of 0.73. International Business Machines Corporation has a one year low of $203.51 and a one year high of $296.16. The stock has a 50 day moving average price of $254.60 and a 200-day moving average price of $258.93.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities analysts predict that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 8th. International Business Machines’s dividend payout ratio is presently 109.09%.

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.