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

Corebridge Financial Inc. raised its position in International Business Machines Co. (NYSE:IBM) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in International Business Machines during the 4th quarter worth about $592,746,000. Holocene Advisors LP purchased a new stake in International Business Machines during the third quarter worth about $573,306,000. Vanguard Group Inc. lifted its position in shares of International Business Machines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock worth $20,189,023,000 after purchasing an additional 1,539,888 shares in the last quarter. State Street Corp boosted its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. Finally, KBC Group NV grew its holdings in shares of International Business Machines by 90.4% in the fourth quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after purchasing an additional 800,930 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Stock Performance

NYSE IBM opened at $243.75 on Monday. The company has a fifty day moving average of $246.77 and a two-hundred day moving average of $230.09. The company has a market capitalization of $226.02 billion, a PE ratio of 38.03, a P/E/G ratio of 5.81 and a beta of 0.74. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

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

International Business Machines Announces Dividend

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IBM shares. Morgan Stanley increased their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Jefferies Financial Group lifted their target price on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, Oppenheimer began coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.