International Business Machines Corporation (NYSE:IBM) has tumbled 0.25% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.22% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.95% and the outperformance has advanced to 2.28% for the last 4 weeks period.
International Business Machines Corporation (NYSE:IBM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $150.96 and $150.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $152.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $151.99, notching a gain of 0.62% for the day. The total traded volume was 4,663,870 . The stock had closed at $151.06 on the previous day.
The company shares have dropped -8.98% from its 1 Year high price. On Jul 20, 2015, the shares registered one year high at $173.78 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $149.63 and the 200 Day Moving Average price is recorded at $140.69.
On the companys insider trading activities, Gherson Diane J, (Senior Vice President) of International Business Machines Corp, unloaded 2,986 shares at an average price of $147 on May 6, 2016. The total amount of the transaction was worth $438,942, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Goldman Sachs maintains its rating on International Business Machines Corporation (NYSE:IBM).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Goldman Sachs raises the new price target from $138 per share to $150 per share. The rating by the firm was issued on April 19, 2016. Currently the company Insiders own 0.08% of International Business Machines Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -14.9% . Institutional Investors own 61.42% of International Business Machines Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -28.44%.
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.