Legal & General Group Plc Purchases 176,219 Shares of International Business Machines Corporation $IBM

Legal & General Group Plc boosted its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,302,722 shares of the technology company’s stock after purchasing an additional 176,219 shares during the quarter. International Business Machines comprises 0.5% of Legal & General Group Plc’s holdings, making the stock its 28th biggest position. Legal & General Group Plc owned 0.78% of International Business Machines worth $2,060,536,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IBM. Pinkerton Wealth LLC grew its position in shares of International Business Machines by 43.6% during the 3rd quarter. Pinkerton Wealth LLC now owns 978 shares of the technology company’s stock worth $276,000 after buying an additional 297 shares during the period. Banque Cantonale Vaudoise raised its stake in shares of International Business Machines by 0.4% during the third quarter. Banque Cantonale Vaudoise now owns 62,304 shares of the technology company’s stock worth $17,580,000 after buying an additional 274 shares during the last quarter. Clarkston Capital Partners LLC lifted its holdings in International Business Machines by 2.2% in the third quarter. Clarkston Capital Partners LLC now owns 7,205 shares of the technology company’s stock valued at $2,033,000 after buying an additional 155 shares during the period. LGT Fund Management Co Ltd. boosted its stake in International Business Machines by 684.3% in the third quarter. LGT Fund Management Co Ltd. now owns 8,337 shares of the technology company’s stock valued at $2,388,000 after acquiring an additional 7,274 shares during the last quarter. Finally, LGT Group Foundation boosted its stake in International Business Machines by 5.7% in the third quarter. LGT Group Foundation now owns 104,334 shares of the technology company’s stock valued at $29,891,000 after acquiring an additional 5,628 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM stock opened at $253.38 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67. International Business Machines Corporation has a 12-month low of $214.50 and a 12-month high of $324.90. The firm has a fifty day moving average of $280.69 and a 200-day moving average of $284.68. The firm has a market capitalization of $237.68 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.33 by $0.19. The business had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.92 EPS. On average, equities research analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.7%. International Business Machines’s dividend payout ratio (DPR) is currently 60.27%.

Insider Transactions at International Business Machines

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were acquired at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at approximately $2,814,432. This trade represents a 12.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Miebach acquired 434 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average price of $233.33 per share, with a total value of $101,265.22. Following the completion of the transaction, the director directly owned 434 shares in the company, valued at $101,265.22. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,484 shares of company stock worth $417,157. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. Argus set a $360.00 target price on shares of International Business Machines in a research report on Friday, January 30th. UBS Group upgraded International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Dbs Bank upgraded International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. increased their target price on International Business Machines from $312.00 to $317.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.87.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.