International Business Machines Corp. (IBM) : Gofen Glossberg Il reduced its stake in International Business Machines Corp. by 4.44% during the most recent quarter end. The investment management company now holds a total of 270,362 shares of International Business Machines Corp. which is valued at $42,722,603 after selling 12,568 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.International Business Machines Corp. makes up approximately 1.75% of Gofen Glossberg Il’s portfolio.
Other Hedge Funds, Including , Murphy Pohlad Asset Management reduced its stake in IBM by selling 90 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 11,449 shares of IBM which is valued at $1,809,171. International Business Machines Corp. makes up approx 1.31% of Murphy Pohlad Asset Management’s portfolio. Saddle Road Partners sold out all of its stake in IBM during the most recent quarter. The investment firm sold 23,134 shares of IBM which is valued $3,655,635.Next Financial Group Inc boosted its stake in IBM in the latest quarter, The investment management firm added 133 additional shares and now holds a total of 4,862 shares of International Business Machines Corp. which is valued at $750,985. International Business Machines Corp. makes up approx 0.24% of Next Financial Group Inc’s portfolio.Triangle Securities Wealth Management reduced its stake in IBM by selling 457 shares or 13.4% in the most recent quarter. The Hedge Fund company now holds 2,953 shares of IBM which is valued at $456,120. International Business Machines Corp. makes up approx 0.34% of Triangle Securities Wealth Management’s portfolio.Summit Financial Wealth Advisors reduced its stake in IBM by selling 2,295 shares or 24.02% in the most recent quarter. The Hedge Fund company now holds 7,260 shares of IBM which is valued at $1,121,380. International Business Machines Corp. makes up approx 0.46% of Summit Financial Wealth Advisors’s portfolio.
International Business Machines Corp. opened for trading at $159.3 and hit $160.75 on the upside on Monday, eventually ending the session at $159.86, with a gain of 0.05% or 0.08 points. The heightened volatility saw the trading volume jump to 67,29,685 shares. Company has a market cap of $153,460 M.
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 Drexel Hamilton on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $166 .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 .
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.