Corebridge Financial Inc. Boosts Stock Position in International Business Machines Co. (NYSE:IBM)

Corebridge Financial Inc. lifted its position in International Business Machines Co. (NYSE:IBM) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,908 shares of the technology company’s stock after purchasing an additional 6,056 shares during the quarter. Corebridge Financial Inc.’s holdings in International Business Machines were worth $50,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank increased its stake in shares of International Business Machines by 53.3% in the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the period. Quest Partners LLC raised its stake in shares of International Business Machines by 23,700.0% during the 3rd quarter. Quest Partners LLC now owns 238 shares of the technology company’s stock valued at $53,000 after buying an additional 237 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of International Business Machines by 23.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 95,529 shares of the technology company’s stock valued at $21,120,000 after buying an additional 18,340 shares during the period. Great Valley Advisor Group Inc. boosted its stake in shares of International Business Machines by 1.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,649 shares of the technology company’s stock worth $3,239,000 after buying an additional 180 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in International Business Machines by 0.9% during the third quarter. Cerity Partners LLC now owns 299,691 shares of the technology company’s stock worth $66,256,000 after acquiring an additional 2,648 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

International Business Machines Trading Up 0.2 %

Shares of IBM opened at $243.75 on Monday. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The stock has a market cap of $226.02 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The firm’s fifty day moving average is $246.77 and its two-hundred day moving average is $230.09. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. International Business Machines’s payout ratio is 104.21%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Jefferies Financial Group boosted their target price on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Erste Group Bank upgraded shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Sanford C. Bernstein raised their target price on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $231.44.

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.