First Citizens Bank & Trust Co. Grows Holdings in International Business Machines Corporation $IBM

Key Points

• First Citizens Bank & Trust Co. increased its holdings in International Business Machines Corporation (IBM) by 7.3% in the second quarter, now owning 28,757 shares valued at approximately $8.5 million.
• IBM's quarterly earnings report revealed an EPS of $2.65, exceeding estimates, with revenue increasing by 9.1% year-over-year to $16.33 billion.
• The company announced a quarterly dividend of $1.68, scheduled for December 10th, marking a yield of 2.5% and a payout ratio of 109.09%.

First Citizens Bank & Trust Co. grew its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,757 shares of the technology company's stock after acquiring an additional 1,952 shares during the period. First Citizens Bank & Trust Co.'s holdings in International Business Machines were worth $8,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IBM. Brooklyn Investment Group boosted its holdings in shares of International Business Machines by 32.7% during the first quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock valued at $1,647,000 after acquiring an additional 1,630 shares during the period. Edgar Lomax Co. VA increased its stake in shares of International Business Machines by 5.7% in the first quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock valued at $58,676,000 after purchasing an additional 12,690 shares during the period. Left Brain Wealth Management LLC boosted its position in shares of International Business Machines by 1,547.8% during the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC lifted its holdings in International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock valued at $1,867,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its position in shares of International Business Machines by 5.6% during the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock valued at $15,434,000 after purchasing an additional 3,276 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of International Business Machines in a research report on Wednesday, October 8th. Erste Group Bank downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Melius Research raised International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. UBS Group set a $210.00 target price on shares of International Business Machines and gave the stock a "sell" rating in a report on Thursday. Finally, BMO Capital Markets lifted their target price on International Business Machines from $300.00 to $305.00 and gave the company a "market perform" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $289.46.

International Business Machines Trading Down 6.3%

Shares of International Business Machines stock opened at $264.30 on Thursday. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $301.04. The company has a market capitalization of $245.64 billion, a price-to-earnings ratio of 42.91, a P/E/G ratio of 4.34 and a beta of 0.73. The business has a fifty day simple moving average of $263.92 and a two-hundred day simple moving average of $262.56. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87.

International Business Machines (NYSE:IBM - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.45 by $0.20. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.10 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. Research analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be paid a $1.68 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.5%. International Business Machines's payout ratio is 109.09%.

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.

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