Sigma Planning Corp Sells 71 Shares of International Business Machines Co. (NYSE:IBM)

10 Nov 2024, 15:34 by Doug Wharley · The Cerbat Gem

Sigma Planning Corp trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,131 shares of the technology company’s stock after selling 71 shares during the quarter. Sigma Planning Corp’s holdings in International Business Machines were worth $7,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBM. Sei Investments Co. lifted its position in International Business Machines by 10.6% during the first quarter. Sei Investments Co. now owns 211,017 shares of the technology company’s stock valued at $40,294,000 after purchasing an additional 20,142 shares in the last quarter. Choate Investment Advisors raised its stake in shares of International Business Machines by 4.8% in the first quarter. Choate Investment Advisors now owns 11,680 shares of the technology company’s stock worth $2,230,000 after buying an additional 536 shares during the period. Meeder Advisory Services Inc. raised its stake in shares of International Business Machines by 8.4% in the first quarter. Meeder Advisory Services Inc. now owns 11,215 shares of the technology company’s stock worth $2,142,000 after buying an additional 870 shares during the period. Verus Capital Partners LLC grew its stake in shares of International Business Machines by 15.5% during the 1st quarter. Verus Capital Partners LLC now owns 3,540 shares of the technology company’s stock valued at $676,000 after acquiring an additional 476 shares during the period. Finally, Donoghue Forlines LLC grew its stake in shares of International Business Machines by 119.7% during the 1st quarter. Donoghue Forlines LLC now owns 16,791 shares of the technology company’s stock valued at $3,206,000 after acquiring an additional 9,149 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 0.0 %

Shares of IBM stock opened at $213.72 on Friday. The company has a market cap of $197.62 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $218.02 and its two-hundred day simple moving average is $192.24. International Business Machines Co. has a 1 year low of $145.28 and a 1 year high of $237.37.

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

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Jefferies Financial Group lifted their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets increased their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bernstein Bank lifted their target price on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $208.12.

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