Corebridge Financial Inc. Acquires 6,056 Shares of International Business Machines Co. (NYSE:IBM)

Corebridge Financial Inc. raised its stake in International Business Machines Co. (NYSE:IBM - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,908 shares of the technology company's stock after acquiring an additional 6,056 shares during the quarter. Corebridge Financial Inc.'s holdings in International Business Machines were worth $50,101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IBM. Compass Financial Services Inc bought a new stake in International Business Machines in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company's stock worth $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company's stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of International Business Machines in the fourth quarter valued at approximately $35,000. Institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

IBM has been the subject of a number of recent analyst reports. StockNews.com downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Saturday, March 15th. Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Wedbush began coverage on shares of International Business Machines in a research note on Monday, February 3rd. They set an "outperform" rating on the stock. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 target price for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $231.44.

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International Business Machines Trading Up 0.6 %

NYSE IBM traded up $1.56 during trading hours on Tuesday, reaching $250.01. The company's stock had a trading volume of 3,132,795 shares, compared to its average volume of 3,901,451. The firm has a fifty day simple moving average of $247.40 and a 200-day simple moving average of $230.42. 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 Co. has a 52 week low of $162.62 and a 52 week high of $266.45. The stock has a market cap of $231.83 billion, a P/E ratio of 39.00, a P/E/G ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities 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 business also recently disclosed 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 was Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. International Business Machines's dividend payout ratio (DPR) is 104.21%.

Insider Buying and Selling

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

About International Business Machines

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.