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

Truist Financial Corp raised its position in International Business Machines Corporation (NYSE:IBM) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 868,060 shares of the technology company’s stock after purchasing an additional 21,636 shares during the quarter. Truist Financial Corp’s holdings in International Business Machines were worth $255,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Lifestyle Asset Management Inc. lifted its stake in shares of International Business Machines by 1.7% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 2,144 shares of the technology company’s stock worth $632,000 after buying an additional 36 shares during the last quarter. Blue Edge Capital LLC lifted its stake in shares of International Business Machines by 0.6% during the 1st quarter. Blue Edge Capital LLC now owns 6,776 shares of the technology company’s stock worth $1,685,000 after buying an additional 39 shares during the last quarter. Johnson Bixby & Associates LLC lifted its stake in shares of International Business Machines by 3.3% during the 2nd quarter. Johnson Bixby & Associates LLC now owns 1,208 shares of the technology company’s stock worth $356,000 after buying an additional 39 shares during the last quarter. Tacita Capital Inc lifted its stake in shares of International Business Machines by 20.8% during the 1st quarter. Tacita Capital Inc now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 40 shares during the last quarter. Finally, Vestia Personal Wealth Advisors lifted its stake in shares of International Business Machines by 3.1% during the 2nd quarter. Vestia Personal Wealth Advisors now owns 1,345 shares of the technology company’s stock worth $396,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM stock opened at $282.19 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00. International Business Machines Corporation has a 12 month low of $203.51 and a 12 month high of $296.16. The firm has a market cap of $262.27 billion, a P/E ratio of 45.81, a P/E/G ratio of 4.31 and a beta of 0.71. The company’s 50-day moving average price is $253.98 and its two-hundred day moving average price is $258.50.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating 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 analyst estimates of $16.58 billion. During the same period last year, the firm earned $2.43 EPS. The business’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, analysts anticipate that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

Analyst Upgrades and Downgrades

IBM has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on shares of International Business Machines in a research note on Monday, September 15th. They set a “market perform” rating and a $280.00 target price for the company. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their price objective on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $275.00.

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.