Truist Financial Corp Has $255.89 Million Stake in International Business Machines Corporation $IBM

Key Points

• Truist Financial Corp increased its stake in International Business Machines (IBM) by 2.6%, owning approximately $255.89 million worth of shares after acquiring 21,636 additional shares.
• Several analysts have raised their price targets for IBM, with the Goldman Sachs Group now setting a target of $310 and JPMorgan Chase increasing theirs to $290, reflecting a positive outlook on the company's growth.
• IBM announced a quarterly dividend of $1.68, representing an annualized yield of 2.4%, despite its high dividend payout ratio of 109.09%.

Truist Financial Corp lifted its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 868,060 shares of the technology company's stock after purchasing an additional 21,636 shares during the period. Truist Financial Corp owned approximately 0.09% of International Business Machines worth $255,887,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lifestyle Asset Management Inc. lifted its holdings in International Business Machines by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company's stock valued at $632,000 after buying an additional 36 shares during the period. Blue Edge Capital LLC lifted its holdings in International Business Machines by 0.6% in the first quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company's stock valued at $1,685,000 after buying an additional 39 shares during the period. Johnson Bixby & Associates LLC lifted its holdings in International Business Machines by 3.3% in the second quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company's stock valued at $356,000 after buying an additional 39 shares during the period. Tacita Capital Inc lifted its holdings in International Business Machines by 20.8% in the first quarter. Tacita Capital Inc now owns 232 shares of the technology company's stock valued at $58,000 after buying an additional 40 shares during the period. Finally, Vestia Personal Wealth Advisors lifted its holdings in International Business Machines by 3.1% in the second quarter. Vestia Personal Wealth Advisors now owns 1,345 shares of the technology company's stock valued at $396,000 after buying an additional 40 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Melius Research raised shares of International Business Machines to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada upped their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $275.00.

International Business Machines Stock Up 0.9%

International Business Machines stock opened at $282.19 on Wednesday. The company has a market cap of $262.27 billion, a P/E ratio of 45.81, a price-to-earnings-growth ratio of 4.31 and a beta of 0.71. International Business Machines Corporation has a 1-year low of $203.51 and a 1-year high of $296.16. The company has a fifty day simple moving average of $253.98 and a 200 day simple moving average of $258.50. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

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

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a $1.68 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. International Business Machines's dividend payout ratio (DPR) is 109.09%.

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.

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