International Business Machines Co. (NYSE:IBM) Position Reduced by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,926 shares of the technology company’s stock after selling 550 shares during the quarter. Bessemer Group Inc.’s holdings in International Business Machines were worth $16,251,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in shares of International Business Machines in the 4th quarter worth approximately $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $373,000. Truist Financial Corp boosted its holdings in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after buying an additional 49,591 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in International Business Machines by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $229.18 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The business’s 50-day moving average price is $249.72 and its two-hundred day moving average price is $232.85. The company has a market capitalization of $212.51 billion, a P/E ratio of 35.75, a price-to-earnings-growth ratio of 5.81 and a beta of 0.67.

International Business Machines (NYSE:IBM) last announced 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 return on equity of 38.99% and a net margin of 9.60%. Analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’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 transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IBM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a report on Monday, January 27th. Oppenheimer started coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target on the stock. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Wedbush assumed coverage on shares of International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $231.13.

About International Business Machines

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.