Legal & General Group Plc Purchases 119,747 Shares of International Business Machines Corp. (IBM)

Legal & General Group Plc boosted its position in shares of International Business Machines Corp. (NYSE:IBM) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,929,973 shares of the technology company’s stock after buying an additional 119,747 shares during the quarter. Legal & General Group Plc owned 0.53% of International Business Machines worth $715,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in International Business Machines by 3.7% during the second quarter. Vanguard Group Inc. now owns 62,228,040 shares of the technology company’s stock worth $9,572,538,000 after buying an additional 2,241,818 shares during the period. BlackRock Inc. boosted its stake in International Business Machines by 2.4% during the second quarter. BlackRock Inc. now owns 52,936,360 shares of the technology company’s stock worth $8,143,204,000 after buying an additional 1,241,441 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in International Business Machines by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 4,651,213 shares of the technology company’s stock worth $715,497,000 after buying an additional 134,862 shares during the period. Nordea Investment Management AB boosted its stake in International Business Machines by 14.1% during the third quarter. Nordea Investment Management AB now owns 3,708,439 shares of the technology company’s stock worth $538,020,000 after buying an additional 458,392 shares during the period. Finally, Swiss National Bank boosted its stake in International Business Machines by 2.9% during the second quarter. Swiss National Bank now owns 3,534,977 shares of the technology company’s stock worth $543,786,000 after buying an additional 100,700 shares during the period. 57.08% of the stock is owned by institutional investors.

Several analysts have recently weighed in on IBM shares. Cantor Fitzgerald reiterated a “hold” rating and set a $152.00 target price on shares of International Business Machines in a research report on Friday, January 19th. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. set a $167.00 target price on International Business Machines and gave the stock a “neutral” rating in a research report on Friday, January 19th. BMO Capital Markets reiterated a “market perform” rating and set a $170.00 target price (up from $167.00) on shares of International Business Machines in a research report on Wednesday, October 18th. Finally, Citigroup lifted their target price on International Business Machines from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 18th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $164.37.

Shares of International Business Machines Corp. (NYSE IBM) opened at $151.40 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $138,415.08, a PE ratio of 10.81, a P/E/G ratio of 2.19 and a beta of 0.94. International Business Machines Corp. has a fifty-two week low of $139.13 and a fifty-two week high of $182.79.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.01. The firm had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.01 earnings per share. research analysts anticipate that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be issued a $1.50 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.00 dividend on an annualized basis and a yield of 3.96%. International Business Machines’s dividend payout ratio is presently 98.20%.

In other news, Director Frederick H. Waddell bought 610 shares of International Business Machines stock in a transaction on Wednesday, January 31st. The stock was acquired at an average cost of $163.38 per share, for a total transaction of $99,661.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Legal & General Group Plc Purchases 119,747 Shares of International Business Machines Corp. (IBM)” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/02/13/international-business-machines-corp-ibm-shares-bought-by-legal-general-group-plc.html.

International Business Machines Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply