Truist Financial Corp Sells 22,415 Shares of International Business Machines Co. (NYSE:IBM)

Truist Financial Corp lessened its stake in International Business Machines Co. (NYSE:IBM) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 538,285 shares of the technology company’s stock after selling 22,415 shares during the quarter. Truist Financial Corp’s holdings in International Business Machines were worth $88,037,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in IBM. Naples Money Management LLC purchased a new position in International Business Machines in the 4th quarter worth about $28,000. Briaud Financial Planning Inc purchased a new position in International Business Machines during the 3rd quarter valued at about $31,000. Stone House Investment Management LLC increased its position in International Business Machines by 971.4% during the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares during the period. Financial Gravity Asset Management Inc. increased its position in International Business Machines by 67.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 91 shares during the period. Finally, Cordant Inc. increased its position in International Business Machines by 753.3% during the 4th quarter. Cordant Inc. now owns 256 shares of the technology company’s stock valued at $42,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

NYSE IBM traded down $1.78 on Friday, hitting $167.13. 8,983,796 shares of the company’s stock traded hands, compared to its average volume of 3,906,041. The company has a current ratio of 1.13, a quick ratio of 0.93 and a debt-to-equity ratio of 2.32. International Business Machines Co. has a 1-year low of $120.55 and a 1-year high of $199.18. The firm’s 50-day moving average price is $187.60 and its two-hundred day moving average price is $170.15. The firm has a market capitalization of $153.21 billion, a PE ratio of 18.94, a P/E/G ratio of 3.33 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the business posted $1.36 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that International Business Machines Co. will post 9.99 EPS for the current year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 75.20%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BMO Capital Markets cut their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Wednesday, April 17th. Bank of America lifted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group cut their price objective on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley cut their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $184.08.

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.