Baystate Wealth Management Lowers stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Baystate Wealth Management reduced its stake in International Business Machines Corp. by 4.51% during the most recent quarter end. The investment management company now holds a total of 7,417 shares of International Business Machines Corp. which is valued at $1,129,980 after selling 350 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on Jul 1, 2016.International Business Machines Corp. makes up approximately 0.25% of Baystate Wealth Management’s portfolio.

Other Hedge Funds, Including , Toth Financial Advisory Corp reduced its stake in IBM by selling 66 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 14,949 shares of IBM which is valued at $2,277,480. International Business Machines Corp. makes up approx 0.69% of Toth Financial Advisory Corp’s portfolio.

International Business Machines Corp. opened for trading at $152.19 and hit $152.97 on the upside on Friday, eventually ending the session at $152.35, with a gain of 0.38% or 0.57 points. The heightened volatility saw the trading volume jump to 26,58,280 shares. Company has a market cap of $146,250 M.

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 .

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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