PNC Financial Services Group Inc. reduced its stake in International Business Machines Corporation (IBM) by 0.7% in Q3, selling 8,004 shares but still holding over 1.1 million shares valued at approximately $327.3 million. Despite this trimming, other institutional investors increased their positions in IBM. The company recently reported strong earnings, exceeding analyst expectations, and several analysts have raised their price targets, resulting in a consensus “Moderate Buy” rating for the stock.
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PNC Financial Services Group Inc. Reduces Stock Position in International Business Machines Corporation $IBM
PNC Financial Services Group Inc. reduced its stake in International Business Machines Corporation (IBM) by 0.7% in Q3, selling 8,004 shares but still holding over 1.1 million shares valued at approximately $327.3 million. Despite this trimming, other institutional investors increased their positions in IBM. The company recently reported strong earnings, exceeding analyst expectations, and several analysts have raised their price targets, resulting in a consensus “Moderate Buy” rating for the stock.