International Business Machines Co. (NYSE:IBM) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,677 shares of the technology company’s stock after selling 4,910 shares during the period. Fulton Bank N.A.’s holdings in International Business Machines were worth $6,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after acquiring an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in International Business Machines during the 3rd quarter worth about $573,306,000. State Street Corp lifted its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the period. Thrivent Financial for Lutherans grew its holdings in International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in International Business Machines by 587.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of several recent analyst reports. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Bank of America boosted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley upped their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $214.88.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

International Business Machines Stock Down 0.8 %

IBM stock traded down $1.76 during trading on Wednesday, reaching $222.20. The stock had a trading volume of 953,529 shares, compared to its average volume of 2,699,258. 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 1-year low of $159.51 and a 1-year high of $239.35. The firm has a fifty day moving average price of $221.01 and a 200 day moving average price of $208.49. The company has a market capitalization of $205.46 billion, a P/E ratio of 32.34, a PEG ratio of 5.18 and a beta of 0.74.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

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.