Fulton Bank N.A. Has $6.52 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Fulton Bank N.A. lifted its stake in shares of International Business Machines Co. (NYSE:IBMFree Report) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,142 shares of the technology company’s stock after purchasing an additional 1,671 shares during the period. Fulton Bank N.A.’s holdings in International Business Machines were worth $6,520,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. grew its position in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares during the period. Arden Trust Co increased its position in International Business Machines by 2.8% in the first quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. Calamos Wealth Management LLC raised its stake in shares of International Business Machines by 2.8% in the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the period. Avion Wealth lifted its position in shares of International Business Machines by 6.2% during the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of International Business Machines by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Up 2.0 %

Shares of NYSE:IBM traded up $3.42 during trading on Thursday, reaching $173.97. 4,721,704 shares of the stock traded hands, compared to its average volume of 4,552,762. The stock has a 50-day moving average of $171.11 and a two-hundred day moving average of $175.93. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines Co. has a 52-week low of $129.18 and a 52-week high of $199.18. The stock has a market cap of $159.81 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 4.21 and a beta of 0.72.

International Business Machines (NYSE:IBMGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts expect that International Business Machines Co. will post 9.9 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.84%. International Business Machines’s payout ratio is 75.65%.

Wall Street Analysts Forecast Growth

IBM has been the subject of several recent analyst reports. Sanford C. Bernstein boosted their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Bank of America raised their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. BMO Capital Markets lowered their price target on International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Finally, Wedbush increased their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $181.29.

View Our Latest Stock Report on IBM

About International Business Machines

(Free Report)

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.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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