G&S Capital LLC reduced its stake in International Business Machines Co. by 64.7% in the first quarter, according to a recent filing with the SEC. The firm held 2,670 shares of the technology company, down from 4,894 shares. Other institutional investors also adjusted their holdings, with Vanguard Group Inc. increasing its shares by 0.4% and Morgan Stanley raising theirs by 13.4%. Analysts have set varied price targets for IBM stock, with some lowering and some initiating coverage with buy ratings. The company’s recent earnings report exceeded expectations, with revenue slightly increasing year over year. IBM recently raised its quarterly dividend, reflecting confidence in the business. The company focuses on software, consulting, infrastructure, and financing services globally. Market analysts maintain a consensus rating of “Hold” for IBM stock, with a consensus price target of $182.53.
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https://www.defenseworld.net/2024/06/27/gs-capital-llc-sells-4894-shares-of-international-business-machines-co-nyseibm.html
