Meyer Handelman Co Lowers stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Meyer Handelman Co reduced its stake in International Business Machines Corp. by 0.99% during the most recent quarter end. The investment management company now holds a total of 414,544 shares of International Business Machines Corp. which is valued at $63.4 Million after selling 4,141 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on May 25, 2016.International Business Machines Corp. makes up approximately 2.86% of Meyer Handelman Co’s portfolio.

Other Hedge Funds, Including , Carret Asset Management reduced its stake in IBM by selling 534 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 45,330 shares of IBM which is valued at $6.7 Million. International Business Machines Corp. makes up approx 1.43% of Carret Asset Management’s portfolio.Keel Point reduced its stake in IBM by selling 69 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 3,978 shares of IBM which is valued at $587,630. International Business Machines Corp. makes up approx 0.30% of Keel Point’s portfolio.Credit Agricole S A reduced its stake in IBM by selling 17,388 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 899,989 shares of IBM which is valued at $132.9 Million. International Business Machines Corp. makes up approx 0.64% of Credit Agricole S A’s portfolio.Investment Counselors Of Maryland reduced its stake in IBM by selling 1,480 shares or 12.45% in the most recent quarter. The Hedge Fund company now holds 10,411 shares of IBM which is valued at $1.5 Million. International Business Machines Corp. makes up approx 0.09% of Investment Counselors Of Maryland’s portfolio.

International Business Machines Corp. closed down -1.23 points or -0.80% at $152.51 with 26,63,419 shares getting traded on Wednesday. Post opening the session at $153, the shares hit an intraday low of $151.54 and an intraday high of $153.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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