Bedell Frazier Investment Counselling LLC Lowers Holdings in International Business Machines Co. (NYSE:IBM)

Bedell Frazier Investment Counselling LLC lowered its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,234 shares of the technology company's stock after selling 1,174 shares during the period. International Business Machines makes up 2.2% of Bedell Frazier Investment Counselling LLC's portfolio, making the stock its 12th largest holding. Bedell Frazier Investment Counselling LLC's holdings in International Business Machines were worth $8,845,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. JBR Co Financial Management Inc lifted its position in shares of International Business Machines by 0.6% during the 4th quarter. JBR Co Financial Management Inc now owns 6,390 shares of the technology company's stock valued at $1,405,000 after acquiring an additional 40 shares during the period. Schechter Investment Advisors LLC boosted its stake in International Business Machines by 0.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 6,351 shares of the technology company's stock valued at $1,396,000 after buying an additional 43 shares in the last quarter. Callan Capital LLC grew its position in International Business Machines by 2.4% in the fourth quarter. Callan Capital LLC now owns 1,870 shares of the technology company's stock valued at $411,000 after acquiring an additional 44 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in International Business Machines by 0.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after acquiring an additional 45 shares in the last quarter. Finally, Tower Wealth Partners Inc. raised its stake in International Business Machines by 1.9% during the fourth quarter. Tower Wealth Partners Inc. now owns 2,376 shares of the technology company's stock worth $522,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

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Insider Transactions at International Business Machines

In related news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $280.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a report on Wednesday, February 5th. Jefferies Financial Group reduced their price objective on International Business Machines from $270.00 to $265.00 and set a "hold" rating on the stock in a research report on Monday. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They set an "outperform" rating and a $320.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $231.13.

International Business Machines Trading Down 2.0 %

Shares of IBM traded down $4.94 during trading hours on Thursday, hitting $245.04. The company had a trading volume of 2,650,441 shares, compared to its average volume of 4,109,012. The firm has a market cap of $227.22 billion, a P/E ratio of 38.23, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The stock's 50 day moving average price is $251.05 and its 200 day moving average price is $232.26. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Monday, February 10th. International Business Machines's dividend payout ratio (DPR) is currently 104.21%.

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.