Signature Estate & Investment Advisors LLC Sells 717 Shares of International Business Machines Co. (NYSE:IBM)

Signature Estate & Investment Advisors LLC trimmed its position in International Business Machines Co. (NYSE:IBM) by 8.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,742 shares of the technology company’s stock after selling 717 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in International Business Machines were worth $1,712,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ellenbecker Investment Group boosted its stake in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC boosted its holdings in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after purchasing an additional 47 shares during the last quarter. Sollinda Capital Management LLC raised its position in shares of International Business Machines by 3.7% in the third quarter. Sollinda Capital Management LLC now owns 1,360 shares of the technology company’s stock valued at $301,000 after purchasing an additional 49 shares during the period. Lansing Street Advisors increased its holdings in shares of International Business Machines by 3.4% in the 3rd quarter. Lansing Street Advisors now owns 1,503 shares of the technology company’s stock worth $332,000 after buying an additional 49 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in International Business Machines by 0.7% in the 3rd quarter. Ascent Wealth Partners LLC now owns 7,144 shares of the technology company’s stock worth $1,579,000 after acquiring an additional 49 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 1.9 %

Shares of IBM opened at $204.99 on Friday. The firm has a 50-day moving average price of $218.79 and a 200 day moving average price of $193.48. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a 12-month low of $152.13 and a 12-month high of $237.37. The firm has a market capitalization of $189.54 billion, a P/E ratio of 29.84, a P/E/G ratio of 4.74 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.08 billion. During the same period last year, the firm posted $2.20 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts forecast that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid 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 yield of 3.26%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Company 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.