D.A. Davidson & CO. Sells 1,337 Shares of International Business Machines Co. (NYSE:IBM)

26 Nov 2024, 11:22 by Amy Steele · The Cerbat Gem

D.A. Davidson & CO. trimmed its position in International Business Machines Co. (NYSE:IBM – Free Report) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 203,816 shares of the technology company’s stock after selling 1,337 shares during the period. D.A. Davidson & CO.’s holdings in International Business Machines were worth $45,060,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBM. Janus Henderson Group PLC boosted its stake in International Business Machines by 17.1% in the first quarter. Janus Henderson Group PLC now owns 717,202 shares of the technology company’s stock valued at $136,946,000 after acquiring an additional 104,771 shares during the last quarter. Ancora Advisors LLC boosted its position in shares of International Business Machines by 2.3% in the 1st quarter. Ancora Advisors LLC now owns 8,214 shares of the technology company’s stock worth $1,569,000 after purchasing an additional 183 shares during the last quarter. Meiji Yasuda Life Insurance Co acquired a new stake in shares of International Business Machines during the first quarter worth $226,000. Coppell Advisory Solutions Corp. bought a new stake in International Business Machines in the first quarter valued at about $224,000. Finally, Beacon Capital Management LLC lifted its stake in International Business Machines by 41.6% in the first quarter. Beacon Capital Management LLC now owns 2,411 shares of the technology company’s stock valued at $460,000 after buying an additional 708 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Business Machines

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 currently owned by corporate insiders.

International Business Machines Price Performance

Shares of IBM opened at $226.25 on Tuesday. The company has a market cap of $209.20 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 5.01 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company’s fifty day simple moving average is $219.63 and its 200 day simple moving average is $196.00. International Business Machines Co. has a 1-year low of $154.75 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share 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 company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the business earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a $1.67 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.95%. International Business Machines’s payout ratio is 97.23%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBM shares. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Bernstein Bank boosted their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $208.12.

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