Alpha Omega Wealth Management LLC Sells 7,158 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Alpha Omega Wealth Management LLC lowered its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,178 shares of the company's stock after selling 7,158 shares during the period. Alpha Omega Wealth Management LLC's holdings in Kyndryl were worth $2,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC bought a new position in Kyndryl in the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its position in shares of Kyndryl by 44.2% in the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company's stock worth $35,000 after purchasing an additional 462 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Kyndryl in the second quarter valued at about $39,000. Northwestern Mutual Wealth Management Co. lifted its stake in Kyndryl by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock valued at $44,000 after buying an additional 422 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock worth $80,000 after buying an additional 496 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of KD traded up $1.97 during mid-day trading on Tuesday, reaching $39.93. The company's stock had a trading volume of 3,708,146 shares, compared to its average volume of 2,518,449. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $40.06. The business has a 50-day simple moving average of $36.28 and a two-hundred day simple moving average of $28.74. The stock has a market cap of $9.27 billion, a P/E ratio of -102.37, a PEG ratio of 11.00 and a beta of 1.86.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America started coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Susquehanna lifted their target price on Kyndryl from $33.00 to $40.00 and gave the stock a "positive" rating in a report on Friday, November 22nd. Finally, Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.