Truist Financial Corp Increases Holdings in International Business Machines Corporation $IBM

Truist Financial Corp raised its stake in shares of International Business Machines Corporation (NYSE:IBM) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 897,464 shares of the technology company’s stock after buying an additional 29,404 shares during the quarter. Truist Financial Corp’s holdings in International Business Machines were worth $253,228,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. EPG Wealth Management LLC boosted its stake in shares of International Business Machines by 4.4% during the third quarter. EPG Wealth Management LLC now owns 7,021 shares of the technology company’s stock valued at $1,981,000 after purchasing an additional 299 shares during the period. Novare Capital Management LLC lifted its holdings in International Business Machines by 1.6% during the 3rd quarter. Novare Capital Management LLC now owns 2,838 shares of the technology company’s stock valued at $801,000 after buying an additional 45 shares in the last quarter. Disciplined Investments LLC purchased a new stake in International Business Machines in the 3rd quarter valued at about $298,000. Little House Capital LLC grew its stake in International Business Machines by 1.0% in the 3rd quarter. Little House Capital LLC now owns 9,914 shares of the technology company’s stock worth $2,797,000 after acquiring an additional 100 shares in the last quarter. Finally, Principle Wealth Partners LLC increased its position in shares of International Business Machines by 0.6% during the third quarter. Principle Wealth Partners LLC now owns 56,645 shares of the technology company’s stock worth $15,983,000 after acquiring an additional 350 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.8%

International Business Machines stock opened at $294.07 on Wednesday. The stock has a 50-day moving average price of $302.19 and a 200 day moving average price of $282.72. The company has a market capitalization of $274.88 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.87 and a beta of 0.70. International Business Machines Corporation has a 52 week low of $214.50 and a 52 week high of $324.90. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 1.97.

Analyst Ratings Changes

IBM has been the subject of a number of research analyst reports. Dbs Bank raised International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. Weiss Ratings restated a “buy (b)” rating on shares of International Business Machines in a report on Thursday, January 22nd. Morgan Stanley lowered their price objective on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $290.00 to $312.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.86.

International Business Machines Profile

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.