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

Trustmark National Bank Trust Department cut its position in shares of International Business Machines Co. (NYSE:IBM) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 85,062 shares of the technology company’s stock after selling 921 shares during the period. International Business Machines accounts for 1.4% of Trustmark National Bank Trust Department’s investment portfolio, making the stock its 14th biggest position. Trustmark National Bank Trust Department’s holdings in International Business Machines were worth $18,806,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IBM. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines during the second quarter valued at about $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the 3rd quarter valued at $5,117,000. Aljian Capital Management LLC acquired a new position in International Business Machines during the third quarter valued at $611,000. Focused Wealth Management Inc boosted its holdings in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of International Business Machines by 4.5% during the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after acquiring an additional 6,004 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America upped their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Up 2.1 %

NYSE:IBM opened at $214.61 on Thursday. The stock has a market cap of $198.44 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 4.72 and a beta of 0.71. The company has a 50-day moving average price of $219.07 and a 200-day moving average price of $194.64. International Business Machines Co. has a 12 month low of $153.51 and a 12 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 announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. Equities analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

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

International Business Machines 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.