Truist Financial Corp Has $91.72 Million Stock Position in International Business Machines Co. (NYSE:IBM)

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

A number of other hedge funds also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC purchased a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $7,160,000. Mosley Wealth Management purchased a new position in shares of International Business Machines during the fourth quarter valued at $312,000. Hodges Capital Management Inc. raised its position in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after buying an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted its stake in International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after acquiring an additional 250 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in International Business Machines during the 4th quarter worth about $3,017,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI lifted their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets upped their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.93.

International Business Machines Trading Down 0.8 %

Shares of IBM stock opened at $219.36 on Wednesday. The business’s 50 day moving average is $201.62 and its two-hundred day moving average is $185.54. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $224.15. The company has a market cap of $201.50 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its 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 the consensus estimate of $15.62 billion. During the same quarter last year, the firm posted $2.18 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

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