International Business Machines Co. (NYSE:IBM) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,349 shares of the technology company’s stock after selling 20,125 shares during the period. Truist Financial Corp owned about 0.06% of International Business Machines worth $91,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its holdings in International Business Machines by 0.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 462,553 shares of the technology company’s stock worth $75,651,000 after purchasing an additional 3,352 shares during the period. Edge Capital Group LLC boosted its holdings in shares of International Business Machines by 4.0% in the 4th quarter. Edge Capital Group LLC now owns 19,422 shares of the technology company’s stock valued at $3,177,000 after buying an additional 740 shares during the period. Lake Street Advisors Group LLC bought a new stake in shares of International Business Machines during the 4th quarter valued at about $579,000. Tower Research Capital LLC TRC raised its stake in International Business Machines by 286.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 151,442 shares of the technology company’s stock worth $24,768,000 after acquiring an additional 112,275 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings in International Business Machines by 138.7% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 40,491 shares of the technology company’s stock worth $6,622,000 after acquiring an additional 23,531 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of research reports. Stifel Nicolaus increased their price target on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Evercore ISI upped their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets boosted their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $191.93.

International Business Machines Stock Down 0.8 %

IBM opened at $219.36 on Wednesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market capitalization of $201.50 billion, a PE ratio of 24.84, a P/E/G ratio of 4.90 and a beta of 0.70. The stock’s fifty day moving average is $201.62 and its 200-day moving average is $185.54. International Business Machines Co. has a one year low of $135.87 and a one year high of $224.15.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the business earned $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

International Business Machines Company 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.