First Allied Advisory Services buys $11,015,688 stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : First Allied Advisory Services scooped up 705 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 Nov 14, 2016. The investment management firm now holds a total of 69,627 shares of International Business Machines Corp. which is valued at $11,015,688.International Business Machines Corp. makes up approximately 0.59% of First Allied Advisory Services’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. added IBM to its portfolio by purchasing 2,336 company shares during the most recent quarter which is valued at $369,579. International Business Machines Corp. makes up approx 0.79% of Qcm Cayman Ltd.’s portfolio.Bedell Frazier Investment Counseling reduced its stake in IBM by selling 200 shares or 9.9% in the most recent quarter. The Hedge Fund company now holds 1,820 shares of IBM which is valued at $283,410. International Business Machines Corp. makes up approx 0.12% of Bedell Frazier Investment Counseling’s portfolio.Bellecapital International Ltd. boosted its stake in IBM in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 2,785 shares of International Business Machines Corp. which is valued at $424,350. International Business Machines Corp. makes up approx 0.49% of Bellecapital International Ltd.’s portfolio.Advisors Capital Management boosted its stake in IBM in the latest quarter, The investment management firm added 2,975 additional shares and now holds a total of 116,750 shares of International Business Machines Corp. which is valued at $17,789,198. International Business Machines Corp. makes up approx 1.83% of Advisors Capital Management’s portfolio.

International Business Machines Corp. opened for trading at $159.8 and hit $160.72 on the upside on Monday, eventually ending the session at $160.39, with a gain of 0.37% or 0.59 points. The heightened volatility saw the trading volume jump to 29,81,633 shares. Company has a market cap of $152,508 M.

On the company’s financial health, International Business Machines Corp. reported $3.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 17, 2016. Analyst had a consensus of $3.23. The company had revenue of $19226.00 million for the quarter, compared to analysts expectations of $19011.02 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.34 EPS.

Many Wall Street Analysts have commented on International Business Machines Corp.. International Business Machines Corp. was Upgraded by BofA/Merrill to ” Buy” on Nov 10, 2016. International Business Machines Corp. was Upgraded by Societe Generale to ” Hold” on Sep 26, 2016.

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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