Caisse DE Depot ET Placement DU Quebec lifted its holdings in International Business Machines Co. (NYSE:IBM) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 427,064 shares of the technology company’s stock after acquiring an additional 10,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in International Business Machines were worth $59,332,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of International Business Machines by 1.1% in the third quarter. BlackRock Inc. now owns 64,528,194 shares of the technology company’s stock worth $8,964,901,000 after buying an additional 722,962 shares during the period. Geode Capital Management LLC increased its stake in shares of International Business Machines by 2.7% in the third quarter. Geode Capital Management LLC now owns 14,756,888 shares of the technology company’s stock worth $2,044,535,000 after buying an additional 392,308 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Business Machines by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,446,039 shares of the technology company’s stock worth $1,971,055,000 after buying an additional 93,603 shares during the period. Northern Trust Corp increased its stake in shares of International Business Machines by 0.9% in the second quarter. Northern Trust Corp now owns 10,403,952 shares of the technology company’s stock worth $1,525,115,000 after buying an additional 90,626 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of International Business Machines by 92.8% in the third quarter. Nordea Investment Management AB now owns 6,834,777 shares of the technology company’s stock worth $956,458,000 after buying an additional 3,290,542 shares during the period. Hedge funds and other institutional investors own 55.31% of the company’s stock.
Several brokerages recently commented on IBM. UBS Group decreased their target price on shares of International Business Machines from $124.00 to $118.00 in a research note on Tuesday, January 25th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Sunday, January 9th. They set a “neutral” rating and a $140.00 price objective on the stock. Evercore ISI began coverage on shares of International Business Machines in a research report on Thursday, December 2nd. They set a “positive” rating and a $125.00 price objective on the stock. Zacks Investment Research raised shares of International Business Machines from a “sell” rating to a “hold” rating and set a $132.00 price objective on the stock in a research report on Friday, December 17th. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $153.00 to $155.00 and gave the company a “market perform” rating in a research report on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $146.45.
NYSE:IBM opened at $133.57 on Tuesday. The firm’s 50-day moving average price is $128.26 and its 200-day moving average price is $133.16. The company has a market capitalization of $119.72 billion, a PE ratio of 21.03, a P/E/G ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.88 and a quick ratio of 0.83. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $152.84.
International Business Machines (NYSE:IBM) last released its earnings results on Monday, January 24th. The technology company reported $3.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.30 by $0.05. The firm had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $15.96 billion. International Business Machines had a net margin of 8.11% and a return on equity of 42.49%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 EPS. Equities analysts anticipate that International Business Machines Co. will post 9.88 EPS for the current fiscal year.
About International Business Machines
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing.
Read More: Technical Indicators – What is a Golden Cross?
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM).
Want More Great Investing Ideas?