8,658 International Business Machines Corporation $IBM Shares Acquired by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its IBM position by 40.3% in the third quarter, acquiring 8,658 shares and bringing its holdings to 30,151 shares worth approximately $6.63 million.
• Institutional investors and hedge funds own 58.96% of IBM, with major holders including State Street, Bank of America, BlackRock and UBS.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $252.96. IBM reported quarterly EPS in line with estimates, modest year-over-year revenue growth, and pays a $1.69 quarterly dividend yielding about 2.9%.

First Citizens Bank & Trust Co. grew its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 40.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,151 shares of the technology company's stock after acquiring an additional 8,658 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in International Business Machines were worth $6,631,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of International Business Machines in the second quarter valued at $21,586,659,000. State Street Corp lifted its position in International Business Machines by 2.7% in the second quarter. State Street Corp now owns 56,045,055 shares of the technology company's stock worth $15,760,430,000 after purchasing an additional 1,450,562 shares during the period. Bank of America Corp DE boosted its stake in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company's stock worth $3,893,669,000 after buying an additional 1,049,602 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in International Business Machines during the second quarter worth $2,606,782,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in International Business Machines by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,621,512 shares of the technology company's stock worth $2,143,245,000 after buying an additional 53,388 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler upgraded shares of International Business Machines to an "overweight" rating in a research note on Tuesday, June 23rd. Citic Securities upped their target price on shares of International Business Machines from $294.00 to $297.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Citigroup cut their target price on International Business Machines from $255.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Truist Financial assumed coverage on International Business Machines in a research note on Friday. They issued a "hold" rating and a $240.00 price target on the stock. Finally, Robert W. Baird started coverage on International Business Machines in a research report on Tuesday, July 21st. They issued a "neutral" rating and a $230.00 price target on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, International Business Machines has a consensus rating of "Hold" and an average target price of $252.96.

Insider Buying and Selling

In other International Business Machines news, SVP Robert Thomas sold 25,000 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares of the company's stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

International Business Machines Stock Performance

NYSE:IBM opened at $230.76 on Wednesday. International Business Machines Corporation has a 1 year low of $199.19 and a 1 year high of $332.46. The firm has a 50 day moving average of $232.22 and a 200-day moving average of $243.77. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $217.41 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.16 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting the consensus estimate of $2.93. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.46 billion. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. International Business Machines's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 EPS. As a group, sell-side analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were given a $1.69 dividend. The ex-dividend date was Monday, August 10th. This represents a $6.76 annualized dividend and a yield of 2.9%. International Business Machines's payout ratio is presently 59.98%.

International Business Machines News Summary

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and set a $270 price target, implying substantial upside from recent levels. RBC rating update
• Positive Sentiment: IBM advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, increasing visibility for its quantum-computing efforts. The Pentagon’s broader quantum push could create longer-term commercial and government opportunities, although the revenue impact is not yet clear. DARPA quantum computing initiative
• Positive Sentiment: New cyber-resilience support for IBM Power users reinforces the company’s positioning in enterprise security and mission-critical infrastructure, potentially supporting demand for its software and services. IBM cyber resilience support
• Neutral Sentiment: IBM is expected to release quarterly results Wednesday. The report will be closely watched for evidence that modest revenue growth is accelerating and for updates on artificial intelligence, cloud, consulting and quantum-computing demand. IBM quarterly earnings preview
• Neutral Sentiment: Truist Securities initiated coverage with a “hold” rating, tempering the more bullish RBC view and signaling that valuation or execution risks remain. Truist IBM coverage
• Negative Sentiment: Comparisons with Arista Networks emphasize IBM’s higher leverage, while commentary contrasting IBM with Cisco suggests the stock has fallen out of favor with parts of Wall Street. These concerns could limit upside if earnings do not provide a stronger growth outlook.

International Business Machines Profile

International Business Machines Corporation NYSE: IBM, commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM's portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.

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