IBM's stock rose after strong earnings, with major institutional shifts in ownership in Q3 2025.

Texas Bank & Trust Co reduced its IBM stake by 22.7% in Q3 2025, while MassMutual Private Wealth & Trust FSB increased its holding by 119.4%. IBM reported strong Q3 earnings on October 22, 2025, with $2.65 EPS and $16.33 billion in revenue, up 9.1% year-over-year. The stock, trading around $296.84 on January 8, 2026, has a market cap of $277.46 billion and a P/E of 35.51. Analysts are mixed, with a "Moderate Buy" consensus and a $301.85 target, citing AI, cloud, and quantum growth but caution over valuation and near-term uncertainty.