Folger Nolan Fleming Douglas Capital Management Inc. Decreases Holdings in International Business Machines Co. (NYSE:IBM)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,187 shares of the technology company’s stock after selling 497 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in International Business Machines were worth $2,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. increased its position in International Business Machines by 40.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in International Business Machines in the second quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new position in International Business Machines in the 3rd quarter worth approximately $5,117,000. Nordea Investment Management AB raised its position in International Business Machines by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in International Business Machines during the 3rd quarter valued at approximately $24,761,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

International Business Machines Stock Up 0.9 %

Shares of NYSE:IBM opened at $224.73 on Friday. The business has a fifty day moving average of $222.65 and a two-hundred day moving average of $210.31. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The stock has a market cap of $207.80 billion, a P/E ratio of 32.71, a PEG ratio of 4.71 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.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 earnings per share. On average, research analysts expect that International Business Machines Co. will post 10.16 earnings per share for the current year.

International Business Machines Announces Dividend

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

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Bank of America upped their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $215.81.

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.