In the third quarter, First Citizens Bank & Trust Co. reduced its holding in International Business Machines Corporation by 9.4%, selling 2,693 shares and retaining 26,064 shares valued at approximately $7.35 million as of its latest SEC filing. This change follows the bank’s strategic portfolio rebalancing, marking a shift away from legacy technology names and reallocating capital toward higher-growth sectors.

Several major asset managers also modified their positions in IBM during the second quarter. Vanguard Group increased its stake by 2.1%, adding 1,913,708 shares to reach 95,051,475 shares (valued at $28.02 billion). State Street Corporation raised its holdings by 0.3%, acquiring 147,721 shares for a total of 54,536,963 shares (worth $16.08 billion). Geode Capital Management added 400,131 shares (a 1.9% rise), bringing its total to 21,936,235 shares ($6.44 billion), while Legal & General Group boosted its position by 3.4%, purchasing 234,318 shares and holding 7,126,503 shares ($2.10 billion). Norges Bank initiated a new position valued at roughly $2.01 billion. Overall, institutional ownership represents nearly 59% of IBM’s outstanding shares.

In its latest quarterly report, IBM delivered adjusted earnings per share of $2.65, beating consensus estimates by $0.20, on revenue of $16.33 billion—up 9.1% year-over-year and surpassing forecasts by $230 million. The company posted a 12.09% net margin and a return on equity of 37.76%. Wall Street analysts updated their views: one firm upgraded IBM to an “outperform” rating with a raised target of $330, another moved to “moderate buy,” and Bank of America affirmed a “buy” stance with an elevated price objective. The consensus rating across 19 analysts stands at Moderate Buy, reflecting confidence in IBM’s AI-driven software and hybrid cloud strategy.