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

Truist Financial Corp increased its holdings in International Business Machines Co. (NYSE:IBM) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 811,062 shares of the technology company’s stock after buying an additional 49,591 shares during the quarter. Truist Financial Corp owned about 0.09% of International Business Machines worth $178,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBM. International Assets Investment Management LLC increased its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after buying an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $573,306,000. State Street Corp grew its stake in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. KBC Group NV grew its stake in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock worth $370,909,000 after purchasing an additional 800,930 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after purchasing an additional 694,204 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IBM. Morgan Stanley raised their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective on the stock. Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. Finally, Bank of America lifted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 0.6 %

Shares of IBM opened at $260.65 on Monday. The firm has a market cap of $241.01 billion, a P/E ratio of 40.66, a price-to-earnings-growth ratio of 5.57 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company’s 50-day moving average price is $232.08 and its 200 day moving average price is $219.64. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts forecast that International Business Machines Co. will post 10.75 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

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.