International Business Machines Stakes: Cullen Frost +3.8%, Global Assets +33.5%, First Citizens -9.4%
Three institutions adjusted IBM holdings: Cullen Frost Bankers boosted its stake 3.8% to 88,856 shares ($25.07M) and Global Assets Advisory raised its position 33.5% to 12,044 shares ($3.40M). First Citizens Bank & Trust trimmed its IBM holding 9.4% to 26,064 shares ($7.35M).
1. Cullen Frost Bankers Inc. Increases Position
Cullen Frost Bankers Inc. lifted its stake in International Business Machines Corporation by 3.8 percent during the third quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The firm acquired an additional 3,227 shares, bringing its total holding to 88,856 shares valued at approximately 25.1 million dollars as of the end of the reporting period. This increase underscores the bank’s confidence in IBM’s strategic direction and recurring revenue streams in cloud and software services.
2. Diverse Institutional Moves and Portfolio Adjustments
Several other asset managers also made noteworthy moves in IBM stock. Global Assets Advisory LLC boosted its position by 33.5 percent, adding 3,024 shares to reach 12,044 shares and representing roughly one percent of its overall portfolio. Meanwhile, First Citizens Bank & Trust Co. trimmed its IBM holding by 9.4 percent, selling 2,693 shares and ending the quarter with 26,064 shares. Smaller funds such as Family CFO Inc., Winnow Wealth LLC and Mountain Hill Investment Partners established modest new stakes ranging from 25,000 to 28,000 dollars in market value, while Highline Wealth Partners and Copia Wealth Management expanded their positions by 85 and 57.6 percent respectively. In total, institutional investors now account for nearly 59 percent of IBM’s outstanding shares.
3. Strong Quarterly Results and Upgraded Price Targets
In its most recent earnings release, IBM reported earnings per share of 2.65 dollars, surpassing analyst expectations by 0.20 dollars, and delivered revenue of 16.33 billion dollars, a 9.1 percent year-over-year increase. The company’s net margin stood at 12.09 percent and return on equity at 37.76 percent. Following the results, Royal Bank of Canada raised its price target from 300 to 350 dollars and maintained an outperform rating, while Jefferies Financial Group upgraded to a buy rating with a target of 360 dollars. BMO Capital Markets reaffirmed a market perform rating with a target of 305 dollars. Based on these and other research updates, IBM carries a consensus Moderate Buy rating with an average target near 307 dollars.