First National Trust Co Sells 7,424 Shares of International Business Machines Corporation $IBM

First National Trust Co trimmed its stake in shares of International Business Machines Corporation (NYSE:IBM) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,249 shares of the technology company’s stock after selling 7,424 shares during the period. First National Trust Co’s holdings in International Business Machines were worth $10,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in International Business Machines during the 4th quarter valued at $2,446,429,000. Capital World Investors lifted its holdings in shares of International Business Machines by 29.2% during the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the period. Ascentis Wealth Management LLC boosted its stake in shares of International Business Machines by 27,169.6% in the 2nd quarter. Ascentis Wealth Management LLC now owns 3,224,635 shares of the technology company’s stock worth $906,800,000 after buying an additional 3,212,810 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of International Business Machines by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company’s stock worth $1,663,847,000 after acquiring an additional 2,553,552 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in shares of International Business Machines by 359.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company’s stock worth $561,814,000 after acquiring an additional 1,484,026 shares during the period. Institutional investors own 58.96% of the company’s stock.

HSBC set a $175.00 target price on International Business Machines and gave the stock a “reduce” rating in a research report on Thursday, July 16th. Weiss Ratings cut shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. The Goldman Sachs Group set a $270.00 price objective on shares of International Business Machines in a report on Thursday, July 23rd. Morgan Stanley cut their target price on shares of International Business Machines from $293.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $270.00 target price on shares of International Business Machines in a report on Tuesday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $265.40.

In other International Business Machines news, SVP Robert David Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total transaction of $5,758,000.00. Following the sale, the senior vice preside...