Truist Financial Corp Purchases 49,591 Shares of International Business Machines Co. (NYSE:IBM)

Truist Financial Corp lifted its position in International Business Machines Co. (NYSE:IBM - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 811,062 shares of the technology company's stock after buying an additional 49,591 shares during the quarter. Truist Financial Corp owned about 0.09% of International Business Machines worth $178,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of IBM. International Assets Investment Management LLC raised its stake in International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company's stock valued at $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of International Business Machines in the 3rd quarter worth about $573,306,000. State Street Corp grew its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company's stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. KBC Group NV grew its holdings in International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company's stock worth $370,909,000 after acquiring an additional 800,930 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company's stock worth $153,262,000 after acquiring an additional 694,204 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

Shares of IBM traded up $0.53 during midday trading on Thursday, reaching $264.85. 4,881,971 shares of the stock were exchanged, compared to its average volume of 4,707,082. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $265.72. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a market cap of $244.89 billion, a P/E ratio of 41.32, a PEG ratio of 5.77 and a beta of 0.76. The stock's 50 day simple moving average is $234.00 and its 200 day simple moving average is $220.96.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts expect that International Business Machines Co. will post 10.77 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, February 10th. International Business Machines's dividend payout ratio is presently 104.21%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their target price on International Business Machines from $245.00 to $270.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $231.44.

International Business Machines Company 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.