Old West Investment Management Lowers stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Old West Investment Management reduced its stake in International Business Machines Corp. by 8.59% during the most recent quarter end. The investment management company now holds a total of 59,191 shares of International Business Machines Corp. which is valued at $9,585,982 after selling 5,560 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.International Business Machines Corp. makes up approximately 6.36% of Old West Investment Management’s portfolio.

Other Hedge Funds, Including , State Of Tennessee Treasury Department boosted its stake in IBM in the latest quarter, The investment management firm added 202,412 additional shares and now holds a total of 671,972 shares of International Business Machines Corp. which is valued at $108,825,865. International Business Machines Corp. makes up approx 0.53% of State Of Tennessee Treasury Department’s portfolio.Dixon Hubard Feinour Brown Incva boosted its stake in IBM in the latest quarter, The investment management firm added 3,110 additional shares and now holds a total of 10,560 shares of International Business Machines Corp. which is valued at $1,710,192. International Business Machines Corp. makes up approx 0.53% of Dixon Hubard Feinour Brown Incva’s portfolio.Robshaw Julian Associates Inc reduced its stake in IBM by selling 7,200 shares or 18.83% in the most recent quarter. The Hedge Fund company now holds 31,045 shares of IBM which is valued at $5,075,858. International Business Machines Corp. makes up approx 3.70% of Robshaw Julian Associates Inc’s portfolio.Pacifica Capital Investments reduced its stake in IBM by selling 245 shares or 1.64% in the most recent quarter. The Hedge Fund company now holds 14,718 shares of IBM which is valued at $2,364,741. International Business Machines Corp. makes up approx 1.22% of Pacifica Capital Investments’s portfolio.Newsquare Capital boosted its stake in IBM in the latest quarter, The investment management firm added 868 additional shares and now holds a total of 5,308 shares of International Business Machines Corp. which is valued at $858,994. International Business Machines Corp. makes up approx 0.20% of Newsquare Capital’s portfolio.

International Business Machines Corp. opened for trading at $158.83 and hit $160.21 on the upside on Monday, eventually ending the session at $159.72, with a gain of 0.88% or 1.4 points. The heightened volatility saw the trading volume jump to 24,75,879 shares. Company has a market cap of $152,667 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.. International Business Machines Corp. was Downgraded by Standpoint Research to ” Hold” on Jul 25, 2016. 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 JMP Securities on Jul 19, 2016 to “Mkt Outperform”, Firm has raised the Price Target to $ 172 from a previous price target of $157 .

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.

Leave a Reply

International Business Machines Corp. - Is it time to Sell?

Top Brokerage Firms are advising their investors on International Business Machines Corp.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.