Versant Capital Management Inc Has $27,000 Holdings in International Business Machines Co. (NYSE:IBM)

Versant Capital Management Inc lowered its stake in International Business Machines Co. (NYSE:IBM) by 29.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the first quarter worth about $26,000. Naples Money Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $28,000. ESL Trust Services LLC bought a new position in shares of International Business Machines in the first quarter worth about $28,000. Creekmur Asset Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBM shares. JPMorgan Chase & Co. dropped their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group lifted their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $184.93.

International Business Machines Price Performance

Shares of IBM stock traded up $2.62 during trading hours on Wednesday, hitting $189.42. The company had a trading volume of 823,965 shares, compared to its average volume of 4,407,400. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $199.18. The firm has a market capitalization of $174.48 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 4.24 and a beta of 0.71. The firm’s fifty day moving average is $177.23 and its 200 day moving average is $180.49. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $15.62 billion. During the same period in the prior year, the company posted $2.18 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that International Business Machines Co. will post 10.06 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.53%. International Business Machines’s dividend payout ratio is currently 75.65%.

International Business Machines 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.