Trustmark Bank Trust Department Has $21.02 Million Stock Holdings in International Business Machines Corporation $IBM

Trustmark Bank Trust Department decreased its position in International Business Machines Corporation (NYSE:IBMFree Report) by 3.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 74,496 shares of the technology company’s stock after selling 2,834 shares during the period. International Business Machines comprises 1.4% of Trustmark Bank Trust Department’s portfolio, making the stock its 15th biggest position. Trustmark Bank Trust Department’s holdings in International Business Machines were worth $21,020,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mattson Financial Services LLC bought a new position in International Business Machines in the third quarter valued at approximately $852,000. Vise Technologies Inc. bought a new stake in shares of International Business Machines during the 2nd quarter worth approximately $16,565,000. Vanguard Group Inc. raised its stake in shares of International Business Machines by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,051,475 shares of the technology company’s stock worth $28,019,274,000 after purchasing an additional 1,913,708 shares in the last quarter. Thames Capital Management LLC acquired a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $2,710,000. Finally, Waverton Investment Management Ltd boosted its holdings in shares of International Business Machines by 3.3% in the 3rd quarter. Waverton Investment Management Ltd now owns 993,743 shares of the technology company’s stock valued at $280,439,000 after buying an additional 32,072 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Erste Group Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. Morgan Stanley reduced their price target on International Business Machines from $304.00 to $247.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of International Business Machines in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $320.87.

Get Our Latest Analysis on International Business Machines

Insider Activity at International Business Machines

In related news, Director Michael Miebach purchased 434 shares of International Business Machines stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $233.33 per share, with a total value of $101,265.22. Following the completion of the transaction, the director directly owned 434 shares of the company’s stock, valued at $101,265.22. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David N. Farr acquired 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were bought at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the purchase, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,484 shares of company stock worth $417,157 over the last ninety days. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Up 0.6%

International Business Machines stock opened at $258.19 on Friday. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90. The company’s 50-day moving average price is $281.73 and its two-hundred day moving average price is $283.99. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. The stock has a market cap of $242.19 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.57 and a beta of 0.73.

International Business Machines (NYSE:IBMGet Free Report) last announced its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. The company had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.92 earnings per share. As a group, analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

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About International Business Machines

(Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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