Trustmark National Bank Trust Department Lowers Position in International Business Machines Co. (NYSE:IBM)

Trustmark National Bank Trust Department lowered its position in International Business Machines Co. (NYSE:IBM) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,062 shares of the technology company’s stock after selling 921 shares during the period. International Business Machines accounts for about 1.4% of Trustmark National Bank Trust Department’s investment portfolio, making the stock its 14th largest holding. Trustmark National Bank Trust Department’s holdings in International Business Machines were worth $18,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cypress Capital Group raised its stake in shares of International Business Machines by 21.4% in the third quarter. Cypress Capital Group now owns 19,375 shares of the technology company’s stock worth $4,283,000 after purchasing an additional 3,419 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of International Business Machines by 8.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 598,283 shares of the technology company’s stock valued at $132,268,000 after purchasing an additional 45,693 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in International Business Machines by 2.1% in the third quarter. Citizens Financial Group Inc. RI now owns 14,815 shares of the technology company’s stock worth $3,275,000 after acquiring an additional 302 shares during the period. Payden & Rygel raised its holdings in International Business Machines by 50.0% in the 3rd quarter. Payden & Rygel now owns 79,800 shares of the technology company’s stock worth $17,642,000 after purchasing an additional 26,600 shares during the period. Finally, Moran Wealth Management LLC lifted its position in shares of International Business Machines by 1.4% during the 3rd quarter. Moran Wealth Management LLC now owns 18,447 shares of the technology company’s stock valued at $4,078,000 after buying an additional 251 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IBM shares. Evercore ISI increased their price target on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Up 2.1 %

Shares of NYSE:IBM opened at $214.61 on Thursday. The firm has a 50 day simple moving average of $219.07 and a 200-day simple moving average of $194.64. The company has a market capitalization of $198.44 billion, a PE ratio of 31.24, a P/E/G ratio of 4.72 and a beta of 0.71. International Business Machines Co. has a twelve month low of $153.51 and a twelve month high of $237.37. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. On average, equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

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.