Fifth Third Bancorp Sells 5,105 Shares of International Business Machines Co. (NYSE:IBM)

Fifth Third Bancorp reduced its stake in International Business Machines Co. (NYSE:IBM) by 3.0% during the 4th quarter, Holdings Channel reports. The fund owned 162,914 shares of the technology company’s stock after selling 5,105 shares during the period. Fifth Third Bancorp’s holdings in International Business Machines were worth $35,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. apricus wealth LLC grew its position in shares of International Business Machines by 1.3% in the fourth quarter. apricus wealth LLC now owns 6,276 shares of the technology company’s stock valued at $1,380,000 after purchasing an additional 78 shares during the last quarter. AM Investment Strategies LLC grew its holdings in International Business Machines by 2.8% in the 4th quarter. AM Investment Strategies LLC now owns 2,456 shares of the technology company’s stock valued at $540,000 after buying an additional 67 shares in the last quarter. CX Institutional increased its position in International Business Machines by 2.0% during the 4th quarter. CX Institutional now owns 7,125 shares of the technology company’s stock worth $1,566,000 after buying an additional 143 shares during the period. Encompass More Asset Management acquired a new stake in shares of International Business Machines during the fourth quarter worth $235,000. Finally, Impact Partnership Wealth LLC boosted its position in shares of International Business Machines by 64.7% in the fourth quarter. Impact Partnership Wealth LLC now owns 10,309 shares of the technology company’s stock valued at $2,266,000 after acquiring an additional 4,049 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Bank of America upped their target price on International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a report on Thursday. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Stock Performance

NYSE IBM opened at $224.69 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market capitalization of $207.75 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $239.35. The company has a 50-day simple moving average of $224.33 and a 200 day simple moving average of $212.32.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. On average, research analysts predict that International Business Machines Co. will post 10.16 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.97%. International Business Machines’s payout ratio is presently 97.23%.

About International Business Machines

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.