International Business Machines Corporation (NYSE:IBM) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 846,424 shares of the technology company's stock after acquiring an additional 35,362 shares during the quarter. Truist Financial Corp owned 0.09% of International Business Machines worth $210,472,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $31,000. Rialto Wealth Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $35,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the 4th quarter valued at about $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IBM. Royal Bank Of Canada boosted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. UBS Group reissued a "sell" rating and issued a $170.00 target price (up previously from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley cut their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus target price of $257.50.

International Business Machines Stock Up 1.4%

International Business Machines stock traded up $4.01 during trading on Friday, reaching $291.66. 1,853,289 shares of the company's stock were exchanged, compared to its average volume of 4,231,670. International Business Machines Corporation has a 52-week low of $174.45 and a 52-week high of $296.16. The firm has a market cap of $271.06 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 6.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company's 50-day moving average is $268.36 and its two-hundred day moving average is $249.65.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The firm's quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

International Business Machines 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.