International Business Machines Corp. (IBM) : Stock Yards Bank Trust Co reduced its stake in International Business Machines Corp. by 1.21% during the most recent quarter end. The investment management company now holds a total of 23,389 shares of International Business Machines Corp. which is valued at $3,612,431 after selling 287 shares in International Business Machines Corp. , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.International Business Machines Corp. makes up approximately 0.50% of Stock Yards Bank Trust Co’s portfolio.
Other Hedge Funds, Including , Gierl Augustine Investment Management Inc reduced its stake in IBM by selling 6 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 1,609 shares of IBM which is valued at $248,510. International Business Machines Corp. makes up approx 0.23% of Gierl Augustine Investment Management Inc’s portfolio.Cornerstone Investment Partners reduced its stake in IBM by selling 100 shares or 3.07% in the most recent quarter. The Hedge Fund company now holds 3,159 shares of IBM which is valued at $485,601. International Business Machines Corp. makes up approx 0.02% of Cornerstone Investment Partners’s portfolio.Atria Investments boosted its stake in IBM in the latest quarter, The investment management firm added 2,494 additional shares and now holds a total of 11,284 shares of International Business Machines Corp. which is valued at $1,746,650. International Business Machines Corp. makes up approx 0.16% of Atria Investments’s portfolio.First United Bank Trust reduced its stake in IBM by selling 100 shares or 3.36% in the most recent quarter. The Hedge Fund company now holds 2,873 shares of IBM which is valued at $451,118. International Business Machines Corp. makes up approx 0.38% of First United Bank Trust’s portfolio.
International Business Machines Corp. opened for trading at $154.47 and hit $155.53 on the upside on Friday, eventually ending the session at $154.45, with a gain of 0.47% or 0.73 points. The heightened volatility saw the trading volume jump to 43,58,197 shares. Company has a market cap of $147,630 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 Upgraded by Societe Generale to ” Hold” on Sep 26, 2016. 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 .
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.