International Business Machines Co. (NYSE:IBM) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC lowered its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,408 shares of the technology company’s stock after selling 1,527 shares during the period. International Business Machines comprises 2.2% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 13th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in International Business Machines were worth $9,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its position in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after acquiring an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines in the 2nd quarter valued at $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the 3rd quarter worth $5,117,000. Aljian Capital Management LLC purchased a new stake in shares of International Business Machines during the third quarter worth $611,000. Finally, Focused Wealth Management Inc grew its holdings in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after buying an additional 3,887 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

International Business Machines Trading Up 0.3 %

IBM opened at $222.97 on Monday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The business’s 50 day moving average price is $219.45 and its 200 day moving average price is $195.57. International Business Machines Co. has a one year low of $153.92 and a one year high of $237.37. The stock has a market capitalization of $206.17 billion, a PE ratio of 32.46, a P/E/G ratio of 5.01 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBM shares. UBS Group boosted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. BMO Capital Markets boosted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $208.12.

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.