First Republic Investment Management Inc. Has $48.96 Million Stake in International Business Machines Corp. (IBM)

First Republic Investment Management Inc. grew its stake in International Business Machines Corp. (NYSE:IBM) by 10.6% during the third quarter, HoldingsChannel.com reports. The firm owned 337,483 shares of the technology company’s stock after buying an additional 32,343 shares during the period. First Republic Investment Management Inc.’s holdings in International Business Machines were worth $48,962,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in International Business Machines by 3.7% during the 2nd 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. raised its stake in International Business Machines by 2.4% during the 2nd 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. Caisse DE Depot ET Placement DU Quebec raised its stake in International Business Machines by 4.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,242,553 shares of the technology company’s stock worth $763,790,000 after buying an additional 216,212 shares during the period. Legal & General Group Plc raised its stake in International Business Machines by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 4,929,973 shares of the technology company’s stock worth $715,252,000 after buying an additional 119,747 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in International Business Machines by 3.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 4,826,502 shares of the technology company’s stock worth $700,229,000 after buying an additional 175,289 shares during the period. 57.06% of the stock is currently owned by institutional investors and hedge funds.

IBM has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “hold” rating on shares of International Business Machines in a research note on Friday, October 13th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $154.00 price objective on shares of International Business Machines in a research note on Friday, October 13th. Zacks Investment Research downgraded International Business Machines from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Drexel Hamilton reissued a “buy” rating and issued a $200.00 price target on shares of International Business Machines in a research note on Tuesday, October 17th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $170.00 price target (up previously from $167.00) on shares of International Business Machines in a research note on Wednesday, October 18th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. International Business Machines has a consensus rating of “Hold” and a consensus price target of $164.37.

International Business Machines Corp. (NYSE IBM) opened at $147.59 on Friday. The firm has a market capitalization of $142,433.02, a PE ratio of 24.16, a PEG ratio of 2.25 and a beta of 0.94. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. International Business Machines Corp. has a 1-year low of $139.13 and a 1-year high of $182.79.

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

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 9th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, February 8th. International Business Machines’s payout ratio is 98.20%.

In related news, Director Frederick H. Waddell acquired 610 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was bought at an average price of $163.38 per share, for a total transaction of $99,661.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

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International Business Machines Company 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.

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

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