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IBM shares sold off by Operose Advisors and a senior VP, yet earnings beat estimates.
Operose Advisors LLC has decreased its holdings in International Business Machines (IBM) by 10.3%, selling 551 shares in the fourth quarter.
Despite this, institutional investors still hold 58.96% of IBM shares.
IBM's Senior Vice President, Robert David Thomas, sold 26,543 shares, worth $6.7 million.
The company reported earnings per share (EPS) of $3.92 for the quarter, exceeding estimates by $0.15, with a market cap of $221.76 billion.
IBM's stock opened at $239.15 on Tuesday.
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Las acciones de IBM fueron vendidas por Operose Advisors y un vicepresidente senior, sin embargo, las ganancias superaron las estimaciones.