International Business Machines Corporation $IBM Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in International Business Machines Corporation (NYSE:IBM) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,388 shares of the technology company’s stock after selling 4,987 shares during the quarter. Fifth Third Bancorp’s holdings in International Business Machines were worth $44,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its holdings in International Business Machines by 4.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 324,122 shares of the technology company’s stock valued at $91,454,000 after acquiring an additional 12,361 shares during the period. ForthRight Wealth Management LLC lifted its position in shares of International Business Machines by 98.2% during the third quarter. ForthRight Wealth Management LLC now owns 4,166 shares of the technology company’s stock worth $1,175,000 after purchasing an additional 2,064 shares in the last quarter. Calton & Associates Inc. boosted its stake in shares of International Business Machines by 12.1% in the third quarter. Calton & Associates Inc. now owns 1,213 shares of the technology company’s stock valued at $342,000 after purchasing an additional 131 shares during the period. Uniting Wealth Partners LLC boosted its stake in shares of International Business Machines by 23.8% in the third quarter. Uniting Wealth Partners LLC now owns 5,853 shares of the technology company’s stock valued at $1,651,000 after purchasing an additional 1,127 shares during the period. Finally, ADE LLC acquired a new position in shares of International Business Machines in the third quarter valued at approximately $308,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. Jefferies Financial Group increased their price objective on International Business Machines from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada set a $361.00 target price on International Business Machines in a report on Thursday, January 29th. UBS Group set a $317.00 price target on International Business Machines in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of International Business Machines in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $330.07.

International Business Machines Trading Up 1.1%

NYSE:IBM opened at $262.33 on Tuesday. The stock has a 50-day simple moving average of $298.30 and a 200-day simple moving average of $284.26. The stock has a market cap of $245.21 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.63 and a beta of 0.69. International Business Machines Corporation has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.92 earnings per share. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is 60.27%.

Insider Buying and Selling

In related news, Director David N. Farr acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. The trade was a 12.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

About International Business Machines

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.