Fulton Bank N.A. Sells 1,727 Shares of International Business Machines Co. (NYSE:IBM)

Fulton Bank N.A. trimmed its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,950 shares of the technology company's stock after selling 1,727 shares during the period. Fulton Bank N.A.'s holdings in International Business Machines were worth $7,199,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Capital World Investors increased its holdings in shares of International Business Machines by 413.5% during the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Norges Bank acquired a new stake in International Business Machines in the 4th quarter valued at $1,236,176,000. GAMMA Investing LLC increased its stake in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. acquired a new position in International Business Machines during the fourth quarter worth $592,746,000. Finally, Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

IBM has been the subject of several recent research reports. Royal Bank of Canada upped their price target on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Oppenheimer started coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price for the company. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Finally, Wall Street Zen lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $249.06.

International Business Machines Stock Up 0.5%

Shares of NYSE IBM traded up $1.23 during trading on Thursday, reaching $266.75. The company had a trading volume of 2,558,211 shares, compared to its average volume of 4,209,693. The stock has a market cap of $247.92 billion, a PE ratio of 41.61, a P/E/G ratio of 5.81 and a beta of 0.64. The business's 50-day moving average is $247.45 and its 200 day moving average is $240.98. International Business Machines Co. has a 12-month low of $165.78 and a 12-month high of $269.28. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is presently 115.66%.

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.