Fulton Bank N.A. Sells 4,810 Shares of International Business Machines Corporation $IBM

Fulton Bank N.A. cut its holdings in International Business Machines Corporation (NYSE:IBM) by 17.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,411 shares of the technology company’s stock after selling 4,810 shares during the period. Fulton Bank N.A.’s holdings in International Business Machines were worth $6,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBM. Family CFO Inc purchased a new position in shares of International Business Machines in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC bought a new stake in International Business Machines during the 2nd quarter valued at $27,000. Highline Wealth Partners LLC increased its stake in shares of International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the period. Silicon Valley Capital Partners raised its stake in International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Finally, Copia Wealth Management raised its position in shares of International Business Machines by 57.6% in the 2nd quarter. Copia Wealth Management now owns 134 shares of the technology company’s stock worth $40,000 after purchasing an additional 49 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Stock Down 1.6%

IBM stock opened at $291.35 on Friday. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $304.54 and a 200-day simple moving average of $281.48. The stock has a market capitalization of $272.33 billion, a P/E ratio of 34.85, a P/E/G ratio of 2.74 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.International Business Machines’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.30 EPS. Equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a $1.68 dividend. The ex-dividend date was Monday, November 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.3%. International Business Machines’s payout ratio is currently 80.38%.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Weiss Ratings raised International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. Royal Bank Of Canada reduced their price objective on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. UBS Group restated a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Jefferies Financial Group increased their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.38.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.