International Business Machines Co. (NYSE:IBM) Position Reduced by Sargent Investment Group LLC

14 Nov 2024, 15:00 by Teresa Graham · The Cerbat Gem

Sargent Investment Group LLC reduced its position in International Business Machines Co. (NYSE:IBM – Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,794 shares of the technology company’s stock after selling 2,110 shares during the quarter. International Business Machines comprises approximately 2.4% of Sargent Investment Group LLC’s investment portfolio, making the stock its 9th largest position. Sargent Investment Group LLC’s holdings in International Business Machines were worth $13,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its position in shares of International Business Machines by 9.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 24,798 shares of the technology company’s stock worth $4,735,000 after purchasing an additional 2,111 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of International Business Machines by 1.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 11,137 shares of the technology company’s stock valued at $2,127,000 after buying an additional 127 shares during the period. Searle & CO. lifted its stake in International Business Machines by 0.5% during the first quarter. Searle & CO. now owns 22,205 shares of the technology company’s stock worth $4,240,000 after purchasing an additional 102 shares during the last quarter. Glaxis Capital Management LLC purchased a new stake in International Business Machines during the first quarter worth approximately $382,000. Finally, Nwam LLC increased its position in International Business Machines by 125.9% during the first quarter. Nwam LLC now owns 28,196 shares of the technology company’s stock worth $5,384,000 after buying an additional 15,716 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Tuesday. Evercore ISI upped their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America increased their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $208.12.

Get Our Latest Stock Report on IBM

International Business Machines Stock Down 1.9 %

Shares of International Business Machines stock traded down $3.93 during trading on Thursday, reaching $206.99. 2,258,436 shares of the company traded hands, compared to its average volume of 4,219,716. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines Co. has a 1-year low of $150.40 and a 1-year high of $237.37. The company has a 50 day moving average price of $218.58 and a 200-day moving average price of $193.11. The firm has a market capitalization of $191.39 billion, a PE ratio of 30.13, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

International Business Machines Profile

(Free Report)