Beacon Financial Group buys $11,504,646 stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Beacon Financial Group scooped up 567 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 Jul 12, 2016. The investment management firm 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 approximately 2.42% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Atria Investments boosted its stake in IBM in the latest quarter, The investment management firm added 1,926 additional shares and now holds a total of 8,790 shares of International Business Machines Corp. which is valued at $1,388,996. International Business Machines Corp. makes up approx 0.15% of Atria Investments’s portfolio.Central Bank Trust Co reduced its stake in IBM by selling 266 shares or 11.95% in the most recent quarter. The Hedge Fund company now holds 1,960 shares of IBM which is valued at $309,719. International Business Machines Corp. makes up approx 0.09% of Central Bank Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in IBM by selling 273,861 shares or 39.85% in the most recent quarter. The Hedge Fund company now holds 413,435 shares of IBM which is valued at $63,859,170. International Business Machines Corp. makes up approx 0.28% of Bnp Paribas Arbitrage Sa’s portfolio.

International Business Machines Corp. closed down -0.5 points or -0.31% at $159.78 with 44,76,810 shares getting traded on Friday. Post opening the session at $159.9, the shares hit an intraday low of $158.5 and an intraday high of $159.98 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 Barclays on Jul 15, 2016 to “Underweight”, Firm has raised the Price Target to $ 140 from a previous price target of $125 .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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