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

Truist Financial Corp trimmed its position in International Business Machines Co. (NYSE:IBM) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 538,285 shares of the technology company’s stock after selling 22,415 shares during the quarter. Truist Financial Corp owned 0.06% of International Business Machines worth $88,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. grew its position in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after acquiring an additional 54 shares during the period. Calamos Wealth Management LLC lifted its stake in shares of International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares in the last quarter. Avion Wealth lifted its stake in shares of International Business Machines by 6.2% during the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares in the last quarter. Northwest Capital Management Inc lifted its stake in shares of International Business Machines by 5.0% during the 4th quarter. Northwest Capital Management Inc now owns 1,230 shares of the technology company’s stock valued at $201,000 after buying an additional 59 shares in the last quarter. Finally, Financial Security Advisor Inc. lifted its stake in shares of International Business Machines by 2.7% during the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after buying an additional 61 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 1.1 %

International Business Machines stock traded down $1.78 during trading hours on Friday, reaching $167.13. The stock had a trading volume of 8,983,796 shares, compared to its average volume of 3,906,041. The stock has a market cap of $153.21 billion, a PE ratio of 18.94, a PEG ratio of 3.33 and a beta of 0.70. International Business Machines Co. has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93. The company has a fifty day simple moving average of $187.60 and a 200-day simple moving average of $170.15.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. Analysts forecast that International Business Machines Co. will post 9.99 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IBM shares. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a research note on Friday, January 19th. UBS Group increased their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday, April 22nd. Sanford C. Bernstein increased their target price on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley lowered their target price on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus target price of $184.08.

About International Business Machines

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.