Posted by David Glaser on Jan 14th, 2017 // No Comments
GAM Holding AG lowered its position in shares of  International Business Machines Corporation (NYSE:IBM) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,531 shares of the technology company’s stock after selling 26,368 shares during the period. GAM Holding AG’s holdings in International Business Machines Corporation were worth $23,276,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quadrant Capital Group LLC raised its position in  International Business Machines Corporation by 1.4% in the third quarter. Quadrant Capital Group LLC now owns 3,523 shares of the technology company’s stock worth $549,000 after buying an additional 47 shares during the last quarter.  Pillar Pacific Capital Management LLC raised its position in  International Business Machines Corporation by 1.1% in the second quarter. Pillar Pacific Capital Management LLC now owns 36,890 shares of the technology company’s stock worth $5,599,000 after buying an additional 414 shares during the last quarter.  HL Financial Services LLC raised its position in  International Business Machines Corporation by 1.1% in the second quarter. HL Financial Services LLC now owns 406,336 shares of the technology company’s stock worth $61,674,000 after buying an additional 4,564 shares during the last quarter.  American Investment Services Inc. raised its position in  International Business Machines Corporation by 82.6% in the third quarter. American Investment Services Inc. now owns 67,629 shares of the technology company’s stock worth $10,743,000 after buying an additional 30,594 shares during the last quarter.  Finally, Goelzer Investment Management Inc. raised its position in  International Business Machines Corporation by 0.7% in the third quarter. Goelzer Investment Management Inc. now owns 39,301 shares of the technology company’s stock worth $6,243,000 after buying an additional 287 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.
Shares of International Business Machines Corporation ( NYSE:IBM ) opened at 167.34 on Friday. The firm has a market cap of $159.12 billion, a price-to-earnings ratio of 13.63 and a beta of 0.97. International Business Machines Corporation has a 52 week low of $116.90 and a 52 week high of $169.95. The company has a 50-day moving average price of $165.86 and a 200 day moving average price of $159.38.
International Business Machines Corporation (NYSE:IBM) last announced its earnings results on Monday, October 17th. The technology company reported $3.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.05. The company had revenue of $19.23 billion for the quarter, compared to analyst estimates of $19 billion. International Business Machines Corporation had a return on equity of 82.86% and a net margin of 14.75%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 earnings per share.  Analysts expect that  International Business Machines Corporation will post $13.49 EPS for the current fiscal year.
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IBM has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on International Business Machines Corporation to $9.00 in a research note on Thursday. Drexel Hamilton  reissued a “buy” rating and issued a $186.00 price target on shares of International Business Machines Corporation in a research note on Tuesday, October 18th. Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $158.20 price target on the stock in a research note on Monday, October 24th. Bank of America Corporation raised International Business Machines Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $185.00 in a research note on Thursday, November 10th. Finally, Stifel Nicolaus lifted their price target on International Business Machines Corporation from $165.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. International Business Machines Corporation  has an average rating of “Hold” and a consensus price target of $160.55.
In other news, Director David N. Farr bought 1,300 shares of the stock in a transaction dated Tuesday, October 25th. The shares were bought at an average price of $149.93 per share, for a total transaction of $194,909.00. Following the completion of the purchase, the director now owns 3,758 shares in the company, valued at $563,436.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Also, insider Jon C. Iwata sold 19,866 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $158.63, for a total value of $3,151,343.58. Following the transaction, the insider now owns 54,719 shares in the company, valued at approximately $8,680,074.97. The disclosure for this sale can be found here . Insiders own  0.08% of the company’s stock.
About International Business Machines Corporation
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).
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