Synovus Financial Corp Reduces Stock Position in International Business Machines Corporation $IBM

Key Points

• Synovus Financial Corp reduced its stake in International Business Machines Corporation (IBM) by 3.1%, now owning 78,414 shares valued at approximately $19.5 million as of its latest SEC filing.
• Institutional investors currently hold about 58.96% of IBM's stock, with several firms increasing their positions in the company during the fourth quarter.
• IBM's most recent earnings report showed a net margin of 9.11% and revenue of $16.98 billion, exceeding estimates and indicating a 7.7% year-over-year growth.

Synovus Financial Corp lessened its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,414 shares of the technology company's stock after selling 2,533 shares during the quarter. Synovus Financial Corp's holdings in International Business Machines were worth $19,498,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBM. Brighton Jones LLC boosted its holdings in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of International Business Machines by 2.8% in the fourth quarter. Hancock Whitney Corp now owns 5,672 shares of the technology company's stock worth $1,247,000 after buying an additional 153 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of International Business Machines by 2.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 40,757 shares of the technology company's stock worth $8,960,000 after buying an additional 1,033 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of International Business Machines in the fourth quarter worth approximately $37,813,000. Finally, Johnson Financial Group Inc. boosted its holdings in shares of International Business Machines by 16.0% in the fourth quarter. Johnson Financial Group Inc. now owns 653 shares of the technology company's stock worth $144,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

International Business Machines Trading Up 1.0%

International Business Machines stock opened at $241.6890 on Friday. International Business Machines Corporation has a 1 year low of $194.39 and a 1 year high of $296.16. The firm's 50 day moving average price is $269.61 and its 200-day moving average price is $257.98. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market cap of $224.63 billion, a P/E ratio of 39.24, a PEG ratio of 3.73 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, equities analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBM. JPMorgan Chase & Co. raised their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wedbush upped their price target on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Royal Bank Of Canada upped their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $268.75.

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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