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

Bedell Frazier Investment Counselling LLC reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,234 shares of the technology company’s stock after selling 1,174 shares during the period. International Business Machines comprises about 2.2% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 12th largest holding. Bedell Frazier Investment Counselling LLC’s holdings in International Business Machines were worth $8,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc purchased a new stake in International Business Machines during the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management lifted its holdings in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC boosted its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in shares of International Business Machines in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 1.0 %

IBM opened at $243.83 on Monday. The firm has a market cap of $226.10 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth 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 business’s 50 day moving average is $249.51 and its two-hundred day moving average is $231.62. 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) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate 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 declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Morgan Stanley increased their price target on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $231.44.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

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.