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

Fifth Third Bancorp cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in International Business Machines during the 3rd quarter valued at approximately $852,000. Vise Technologies Inc. acquired a new position in International Business Machines during the 2nd quarter worth $16,565,000. Vanguard Group Inc. increased its position in shares of International Business Machines by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares during the last quarter. Thames Capital Management LLC acquired a new stake in shares of International Business Machines in the 2nd quarter valued at about $2,710,000. Finally, Twin Capital Management Inc. lifted its position in shares of International Business Machines by 147.6% during the second quarter. Twin Capital Management Inc. now owns 19,932 shares of the technology company’s stock worth $5,876,000 after purchasing an additional 11,882 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IBM shares. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Wedbush boosted their price target on International Business Machines from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Argus set a $360.00 price objective on International Business Machines in a research note on Friday, January 30th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Oppenheimer set a $380.00 price target on shares of International Business Machines and gave the stock an “outperform” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus target price of $330.07.

International Business Machines Stock Up 1.1%

International Business Machines stock opened at $262.33 on Tuesday. 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 Corporation has a one year low of $214.50 and a one year high of $324.90. The company has a 50-day simple moving average of $298.30 and a 200-day simple moving average of $284.26. The firm has a market capitalization 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 (NYSE:IBM) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm had revenue of $19.69 billion during the quarter, compared to analyst estimates of $19.23 billion. During the same period in the previous year, the business posted $3.92 EPS. International Business Machines’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

Insider Buying and Selling

In other International Business Machines news, Director David N. Farr purchased 1,000 shares of International Business Machines 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 transaction, the director owned 9,258 shares of the company’s stock, valued at $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 link. 0.18% of the stock is currently 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.