Legal & General Group Plc Has $2.06 Billion Stake in International Business Machines Corporation $IBM

Legal & General Group Plc boosted its stake in International Business Machines Corporation (NYSE:IBM) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,302,722 shares of the technology company’s stock after acquiring an additional 176,219 shares during the quarter. International Business Machines accounts for 0.5% of Legal & General Group Plc’s portfolio, making the stock its 28th largest position. Legal & General Group Plc’s holdings in International Business Machines were worth $2,060,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBM. Winnow Wealth LLC acquired a new stake in shares of International Business Machines in the 2nd quarter valued at about $27,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of International Business Machines during the third quarter worth about $28,000. Trifecta Capital Advisors LLC boosted its position in shares of International Business Machines by 129.1% during the third quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock worth $36,000 after buying an additional 71 shares during the period. American Wealth Advisors LLC bought a new position in shares of International Business Machines during the third quarter worth about $40,000. Finally, Davis Capital Management bought a new position in shares of International Business Machines during the third quarter worth about $54,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, Director David N. Farr purchased 1,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the director directly owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Miebach acquired 434 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $233.33 per share, with a total value of $101,265.22. Following the transaction, the director owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,484 shares of company stock worth $417,157 over the last ninety days. Insiders own 0.18% of the company’s stock.

International Business Machines Stock Down 2.1%

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. The business has a 50 day moving average price of $280.69 and a two-hundred day moving average price of $284.68. The company has a market cap of $237.68 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.59 and a beta of 0.73. International Business Machines Corporation has a twelve month low of $214.50 and a twelve month high of $324.90.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.33 by $0.19. The firm had revenue of $19.69 billion for the quarter, compared to analyst estimates of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.92 EPS. Analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on IBM. JPMorgan Chase & Co. boosted 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $350.00 price target on shares of International Business Machines in a research note on Thursday, January 29th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Wedbush restated an “outperform” rating and set a $340.00 target price on shares of International Business Machines in a report on Tuesday, February 24th. Finally, Dbs Bank raised shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.87.

International Business Machines Company Profile

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.