Community Bank N.a. Lowers stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Community Bank N.a. reduced its stake in International Business Machines Corp. by 2.17% during the most recent quarter end. The investment management company now holds a total of 133,577 shares of International Business Machines Corp. which is valued at $21,353,619 after selling 2,965 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.International Business Machines Corp. makes up approximately 4.91% of Community Bank N.a.’s portfolio.

Other Hedge Funds, Including , Founders Capital Management reduced its stake in IBM by selling 75 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 38,577 shares of IBM which is valued at $6,166,919. International Business Machines Corp. makes up approx 3.37% of Founders Capital Management’s portfolio.Beacon Financial Group boosted its stake in IBM in the latest quarter, The investment management firm added 567 additional shares and now holds a total of 72,805 shares of International Business Machines Corp. which is valued at $11,504,646. International Business Machines Corp. makes up approx 2.42% of Beacon Financial Group’s portfolio.Benin Management Corp reduced its stake in IBM by selling 1,550 shares or 20.52% in the most recent quarter. The Hedge Fund company now holds 6,003 shares of IBM which is valued at $948,594. International Business Machines Corp. makes up approx 0.48% of Benin Management Corp’s portfolio.Capital Insight Partners reduced its stake in IBM by selling 131 shares or 8.72% in the most recent quarter. The Hedge Fund company now holds 1,372 shares of IBM which is valued at $211,919. International Business Machines Corp. makes up approx 0.20% of Capital Insight Partners’s portfolio.Cacti Asset Management boosted its stake in IBM in the latest quarter, The investment management firm added 623 additional shares and now holds a total of 242,996 shares of International Business Machines Corp. which is valued at $37,020,441. International Business Machines Corp. makes up approx 4.01% of Cacti Asset Management’s portfolio.

International Business Machines Corp. opened for trading at $159.3 and hit $160.75 on the upside on Monday, eventually ending the session at $159.86, with a gain of 0.05% or 0.08 points. The heightened volatility saw the trading volume jump to 67,29,685 shares. Company has a market cap of $153,460 M.

On the company’s financial health, International Business Machines Corp. reported $2.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $2.89. The company had revenue of $20238.00 million for the quarter, compared to analysts expectations of $20063.32 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.84 EPS.

Many Wall Street Analysts have commented on International Business Machines Corp.. Company shares were Reiterated by Drexel Hamilton on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $166 .Company shares were Reiterated by JMP Securities on Jul 19, 2016 to “Mkt Outperform”, Firm has raised the Price Target to $ 172 from a previous price target of $157 .Company shares were Reiterated by UBS on Jul 19, 2016 to “Neutral”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .

International Business Machines Corporation is a technology company. The Company operates in five business segments: Global Technology Services (GTS) which includes Strategic Outsourcing Integrated Technology Services Cloud and Technology Support Services and also provides information technology (IT) infrastructure and business process services; Global Business Services (GBS) which offers its services across Consulting and Systems Integration Global Process Services and Application Management Services; Software which consists of middleware and operating systems software; Systems and Technology (STG) which provides infrastructure technologies and Global Financing which provides financing solutions for products or services that are critical to the end users’ business operations. Its IBM Watson Health Cloud platform collects clinical research and social data from a range of health sources and creates a cloud-based data sharing hub.

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