Meritage Portfolio Management buys $5,571,720 stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Meritage Portfolio Management scooped up 1,555 additional shares in International Business Machines Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 37,520 shares of International Business Machines Corp. which is valued at $5,571,720.International Business Machines Corp. makes up approximately 0.63% of Meritage Portfolio Management’s portfolio.

International Business Machines Corp. opened for trading at $149.35 and hit $150.78 on the upside on Wednesday, eventually ending the session at $150.47, with a gain of 0.93% or 1.39 points. The heightened volatility saw the trading volume jump to 31,11,190 shares. Company has a market cap of $144,584 M.

Other Hedge Funds, Including , Mizuho Securities Usa reduced its stake in IBM by selling 30,000 shares or 66.67% in the most recent quarter. The Hedge Fund company now holds 15,000 shares of IBM which is valued at $2,227,500. International Business Machines Corp. makes up approx 0.55% of Mizuho Securities Usa’s portfolio.Carroll Financial Associates boosted its stake in IBM in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 12,836 shares of International Business Machines Corp. which is valued at $1,906,146. International Business Machines Corp. makes up approx 0.35% of Carroll Financial Associates’s portfolio.Laurel Grove Capital reduced its stake in IBM by selling 1,550 shares or 7.83% in the most recent quarter. The Hedge Fund company now holds 18,240 shares of IBM which is valued at $2,708,640. International Business Machines Corp. makes up approx 1.52% of Laurel Grove Capital’s portfolio.Wagner Bowman Management Corp reduced its stake in IBM by selling 2,162 shares or 46.37% in the most recent quarter. The Hedge Fund company now holds 2,500 shares of IBM which is valued at $379,300. International Business Machines Corp. makes up approx 0.15% of Wagner Bowman Management Corp’s portfolio.Vigilant Capital Management reduced its stake in IBM by selling 385 shares or 12.36% in the most recent quarter. The Hedge Fund company now holds 2,729 shares of IBM which is valued at $407,303. International Business Machines Corp. makes up approx 0.08% of Vigilant Capital Management’s portfolio.

On the company’s financial health, International Business Machines Corp. reported $2.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $2.09. The company had revenue of $18684.00 million for the quarter, compared to analysts expectations of $18285.90 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.91 EPS.

Many Wall Street Analysts have commented on International Business Machines Corp.. Company shares were Reiterated by UBS on Apr 19, 2016 to “Neutral”, Firm has raised the Price Target to $ 150 from a previous price target of $132 .Company shares were Reiterated by Stifel on Apr 14, 2016 to “Buy”, Firm has raised the Price Target to $ 165 from a previous price target of $155 .Company shares were Reiterated by RBC Capital Mkts on Apr 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 155 from a previous price target of $135 .

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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