Welch Investments LLC Purchases 3,048 Shares of International Business Machines Corp. (IBM)

Welch Investments LLC grew its position in shares of International Business Machines Corp. (NYSE:IBM) by 12.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,261 shares of the technology company’s stock after buying an additional 3,048 shares during the period. Welch Investments LLC’s holdings in International Business Machines were worth $4,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Capital Management Inc. lifted its position in shares of International Business Machines by 71.3% during the 3rd quarter. Private Capital Management Inc. now owns 3,425 shares of the technology company’s stock valued at $497,000 after buying an additional 1,425 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in International Business Machines by 3.2% during the 2nd quarter. Convergence Investment Partners LLC now owns 16,170 shares of the technology company’s stock worth $2,488,000 after purchasing an additional 504 shares in the last quarter. Hourglass Capital LLC lifted its holdings in International Business Machines by 83.5% during the 2nd quarter. Hourglass Capital LLC now owns 51,680 shares of the technology company’s stock worth $7,950,000 after purchasing an additional 23,510 shares in the last quarter. Flippin Bruce & Porter Inc. lifted its holdings in International Business Machines by 6.2% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 85,378 shares of the technology company’s stock worth $13,134,000 after purchasing an additional 4,956 shares in the last quarter. Finally, Intl Fcstone Inc. purchased a new stake in International Business Machines during the 2nd quarter worth about $1,116,000. 57.12% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Corp. (IBM) opened at $162.37 on Friday. The firm has a market capitalization of $150,320.00, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.37 and a beta of 0.94. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. International Business Machines Corp. has a one year low of $139.13 and a one year high of $182.79.

International Business Machines (NYSE:IBM) last announced its earnings results on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.01. The business had revenue of $22.54 billion for the quarter, compared to analyst estimates of $22.03 billion. International Business Machines had a return on equity of 68.39% and a net margin of 7.27%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.01 EPS. equities analysts predict that International Business Machines Corp. will post 13.83 earnings per share for the current fiscal year.

A number of analysts recently issued reports on IBM shares. Stifel Nicolaus reissued a “buy” rating and set a $182.00 price objective on shares of International Business Machines in a report on Wednesday, October 18th. Drexel Hamilton reissued a “buy” rating and set a $200.00 price objective on shares of International Business Machines in a report on Tuesday, October 17th. ValuEngine raised International Business Machines from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Vetr raised International Business Machines from a “hold” rating to a “buy” rating and set a $164.53 price objective on the stock in a report on Tuesday, October 24th. Finally, Pivotal Research started coverage on International Business Machines in a report on Friday, October 27th. They set a “buy” rating and a $180.00 price objective on the stock. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. International Business Machines has an average rating of “Hold” and a consensus target price of $164.09.

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International Business Machines Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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