Fulton Bank N.A. Sells 4,910 Shares of International Business Machines Co. (NYSE:IBM)

Fulton Bank N.A. reduced its holdings in International Business Machines Co. (NYSE:IBM) by 13.8% in the 4th quarter, Holdings Channel reports. The fund owned 30,677 shares of the technology company’s stock after selling 4,910 shares during the quarter. Fulton Bank N.A.’s holdings in International Business Machines were worth $6,744,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the third quarter worth about $29,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at approximately $36,000. Modus Advisors LLC acquired a new position in shares of International Business Machines in the fourth quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of International Business Machines during the third quarter valued at $43,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research analyst reports. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus price target of $214.88.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $1.76 during midday trading on Wednesday, reaching $222.20. The company 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. The business’s 50-day simple moving average is $221.01 and its 200 day simple moving average is $208.49. International Business Machines Co. has a 1 year low of $159.51 and a 1 year high of $239.35. The stock has a market cap of $205.46 billion, a P/E ratio of 32.34, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its 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. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, analysts forecast that International Business Machines Co. will post 10.12 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

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.