As International Business Machs (IBM) Share Price Declined, Letko Brosseau & Associates Has Cut Its Position by $581,450; Apple (AAPL) Shareholder Coatue Management Boosted Its Holding by $655.75 Million as Share Value Rose

January 14, 2018 - By Michael Collier

Philippe Laffont increased its stake in Apple Inc (AAPL) by 147.1% based on its latest 2017Q3 regulatory filing with the SEC. Coatue Management Llc bought 4.26M shares as the company’s stock rose 12.78% with the market. The hedge fund run by Philippe Laffont held 7.15 million shares of the computer manufacturing company at the end of 2017Q3, valued at $1.10 billion, up from 2.89M at the end of the previous reported quarter. Coatue Management Llc who had been investing in Apple Inc for a number of months, seems to be bullish on the $900.87 billion market cap company. The stock increased 1.03% or $1.81 during the last trading session, reaching $177.09. About 25.42M shares traded. Apple Inc. (NASDAQ:AAPL) has risen 62.48% since January 14, 2017 and is uptrending. It has outperformed by 45.78% the S&P500.

Letko Brosseau & Associates Inc decreased its stake in International Business Machs (IBM) by 0.41% based on its latest 2017Q3 regulatory filing with the SEC. Letko Brosseau & Associates Inc sold 4,010 shares as the company’s stock declined 15.88% while stock markets rallied. The institutional investor held 977,038 shares of the computer manufacturing company at the end of 2017Q3, valued at $141.75M, down from 981,048 at the end of the previous reported quarter. Letko Brosseau & Associates Inc who had been investing in International Business Machs for a number of months, seems to be less bullish one the $151.03B market cap company. The stock decreased 0.65% or $1.06 during the last trading session, reaching $163.14. About 5.03M shares traded. International Business Machines Corporation (NYSE:IBM) has risen 4.86% since January 14, 2017 and is uptrending. It has underperformed by 11.84% the S&P500.

Analysts await International Business Machines Corporation (NYSE:IBM) to report earnings on January, 18. They expect $5.16 earnings per share, up 2.99% or $0.15 from last year’s $5.01 per share. IBM’s profit will be $4.78 billion for 7.90 P/E if the $5.16 EPS becomes a reality. After $3.30 actual earnings per share reported by International Business Machines Corporation for the previous quarter, Wall Street now forecasts 56.36% EPS growth.

Among 31 analysts covering International Business Machines (NYSE:IBM), 11 have Buy rating, 5 Sell and 15 Hold. Therefore 35% are positive. International Business Machines had 113 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Buy” rating by Argus Research on Friday, July 21. The stock has “Neutral” rating by Citigroup on Tuesday, July 19. Goldman Sachs maintained the shares of IBM in report on Tuesday, September 22 with “Neutral” rating. The rating was maintained by RBC Capital Markets on Wednesday, July 19 with “Hold”. UBS maintained the stock with “Neutral” rating in Tuesday, July 19 report. As per Wednesday, January 20, the company rating was maintained by Deutsche Bank. The firm has “Outperform” rating given on Wednesday, January 3 by RBC Capital Markets. On Wednesday, October 21 the stock rating was maintained by Citigroup with “Neutral”. RBC Capital Markets maintained the stock with “Hold” rating in Monday, November 13 report. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, June 7.

Letko Brosseau & Associates Inc, which manages about $24.00 billion and $11.05 billion US Long portfolio, upped its stake in Lifepoint Health Inc (NASDAQ:LPNT) by 40,110 shares to 1.39M shares, valued at $80.25M in 2017Q3, according to the filing. It also increased its holding in Magna Intl Inc (NYSE:MGA) by 25,680 shares in the quarter, for a total of 5.72M shares, and has risen its stake in Abbvie Inc (NYSE:ABBV).

Investors sentiment increased to 0.74 in 2017 Q3. Its up 0.02, from 0.72 in 2017Q2. It improved, as 70 investors sold IBM shares while 676 reduced holdings. 100 funds opened positions while 451 raised stakes. 519.10 million shares or 2.22% less from 530.91 million shares in 2017Q2 were reported. 12,268 were accumulated by Fairfield Bush And Company. Wagner Bowman Mngmt owns 0.09% invested in International Business Machines Corporation (NYSE:IBM) for 2,313 shares. Ngam Advisors LP reported 0.04% stake. Culbertson A N And invested in 1.36% or 30,786 shares. 49,425 were reported by Rathbone Brothers Pcl. Capital Ca invested in 2,170 shares or 0.02% of the stock. Boothbay Fund Mgmt Ltd Com holds 0.06% or 2,640 shares in its portfolio. Check Cap Mngmt Inc Ca invested in 1.93% or 445,170 shares. Capital Sarl owns 1,710 shares for 0.02% of their portfolio. Sg Americas Ltd Company holds 0.09% in International Business Machines Corporation (NYSE:IBM) or 67,415 shares. Oak Assocs Limited Oh stated it has 163,428 shares. The New York-based Integral Derivatives Lc has invested 0.01% in International Business Machines Corporation (NYSE:IBM). Eaton Vance Management reported 704,866 shares. Girard Prtnrs Ltd holds 3,864 shares or 0.12% of its portfolio. Hutchinson Capital Mngmt Ca stated it has 0.12% of its portfolio in International Business Machines Corporation (NYSE:IBM).

Among 52 analysts covering Apple Inc. (NASDAQ:AAPL), 40 have Buy rating, 1 Sell and 11 Hold. Therefore 77% are positive. Apple Inc. had 344 analyst reports since July 21, 2015 according to SRatingsIntel. UBS maintained it with “Buy” rating and $130 target in Wednesday, December 16 report. Morgan Stanley maintained Apple Inc. (NASDAQ:AAPL) rating on Wednesday, April 27. Morgan Stanley has “Overweight” rating and $120 target. The stock has “Outperform” rating by Longbow on Wednesday, March 30. Citigroup maintained Apple Inc. (NASDAQ:AAPL) rating on Wednesday, October 26. Citigroup has “Buy” rating and $130 target. The stock of Apple Inc. (NASDAQ:AAPL) earned “Buy” rating by HSBC on Wednesday, October 25. The firm has “Neutral” rating given on Wednesday, January 6 by Rosenblatt. The rating was maintained by FBR Capital with “Outperform” on Friday, February 12. Needham initiated Apple Inc. (NASDAQ:AAPL) on Wednesday, April 6 with “Strong Buy” rating. The firm earned “Buy” rating on Wednesday, January 27 by Stifel Nicolaus. Barclays Capital downgraded Apple Inc. (NASDAQ:AAPL) rating on Tuesday, January 24. Barclays Capital has “Equal-Weight” rating and $11 target.

Since August 7, 2017, it had 0 insider buys, and 12 insider sales for $93.68 million activity. Shares for $948,612 were sold by Srouji Johny on Monday, August 28. Another trade for 6,209 shares valued at $1.01M was sold by KONDO CHRIS. 15,642 Apple Inc. (NASDAQ:AAPL) shares with value of $2.42M were sold by Riccio Daniel J.. Another trade for 31,625 shares valued at $5.00 million was sold by SEWELL D BRUCE. SCHILLER PHILIP W sold $8.79M worth of stock. FEDERIGHI CRAIG also sold $9.98M worth of Apple Inc. (NASDAQ:AAPL) shares.

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