Corebridge Financial Inc. Sells 8,683 Shares of International Business Machines Corporation $IBM

Key Points

• Corebridge Financial Inc. has reduced its stake in International Business Machines Corporation (IBM) by 3.8%, now holding 219,225 shares worth approximately $54.5 million after selling 8,683 shares.
• IBM's recent quarterly earnings showed an EPS of $2.80, surpassing estimates, with a revenue of $16.98 billion, reflecting 7.7% year-over-year growth.
• Recent analyst reports have raised price targets for IBM, signaling positive sentiment, with Royal Bank of Canada lifting its target from $285 to $315 and multiple firms maintaining "buy" ratings.

Corebridge Financial Inc. trimmed its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,225 shares of the technology company's stock after selling 8,683 shares during the period. Corebridge Financial Inc.'s holdings in International Business Machines were worth $54,512,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in shares of International Business Machines during the 1st quarter worth approximately $27,000. SSA Swiss Advisors AG bought a new position in shares of International Business Machines during the 1st quarter worth approximately $28,000. Dagco Inc. bought a new position in shares of International Business Machines during the 1st quarter worth approximately $31,000. Measured Risk Portfolios Inc. bought a new position in shares of International Business Machines during the 4th quarter worth approximately $43,000. Finally, Park Square Financial Group LLC bought a new position in shares of International Business Machines in the 4th quarter worth $43,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $241.6890 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The stock's fifty day simple moving average is $269.61 and its two-hundred day simple moving average is $258.01. International Business Machines Corporation has a 1-year low of $194.39 and a 1-year high of $296.16. The stock has a market cap of $224.63 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion for the quarter, compared to analysts' expectations of $16.58 billion. During the same period last year, the business earned $2.43 EPS. The business's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent research reports. Royal Bank Of Canada increased their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Stifel Nicolaus increased their target price on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, Erste Group Bank cut International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $268.75.

International Business Machines Company 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.

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