Vanguard Trims IBM Stake to 7.2%, Holding 66.7M Shares

TL;DR

**Vanguard just cut its IBM stake to 7.2%, holding 66.7 million shares.**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment to its Schedule 13G on February 13, 2024, disclosing its ownership of 66,722,869 shares of International Business Machines Corp (IBM) common stock as of December 29, 2023. This represents 7.2% of IBM's total outstanding shares, a slight decrease from its previous reported stake. This matters to investors because Vanguard is a significant institutional holder, and changes in its position can signal shifts in large-scale investor sentiment towards IBM.

Why It Matters

This filing shows that one of the world's largest asset managers, Vanguard, slightly reduced its ownership in IBM, which could indicate a minor shift in its investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like Vanguard typically poses a low risk to the stock, as it's often part of routine portfolio rebalancing.

Analyst Insight

Investors should note Vanguard's slight reduction in its IBM stake, but recognize that institutional rebalancing is common. This change alone isn't a strong buy or sell signal, but rather an update on a major holder's position.

Key Numbers

• 66,722,869 — Shares Beneficially Owned (The total number of IBM common stock shares Vanguard holds, indicating its significant position.)
• 7.2% — Percentage of Class (The proportion of IBM's outstanding common stock owned by Vanguard, showing its influence.)
• December 29, 2023 — Event Date (The specific date on which Vanguard's ownership percentage triggered the need for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• International Business Machines Corp (company) — subject company (IBM)
• 66,722,869 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 7.2% (dollar_amount) — percentage of IBM's class of securities owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will continue to hold a significant, albeit potentially fluctuating, stake in IBM. (The Vanguard Group) — high confidence, target: Q4 2024

FAQ

Filing Documents

• tv01210-internationalbusines.htm (SC 13G/A) — 11KB
• 0001104659-24-021216.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: International Business Machines Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 1 New Orchard Road Armonk, NY 10504-1722

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 459200101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR