Strategic Financial Group LLC Acquires 105 Shares of International Business Machines Corporation (NYSE:IBM)

Strategic Financial Group LLC increased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 1.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,729 shares of the technology company’s stock after buying an additional 105 shares during the period. Strategic Financial Group LLC’s holdings in International Business Machines Corporation were worth $998,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. bought a new position in International Business Machines Corporation during the fourth quarter valued at $117,000. Jackson Grant Investment Advisers Inc. boosted its position in International Business Machines Corporation by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock valued at $122,000 after buying an additional 6 shares during the period. Pacific Center for Financial Services bought a new position in International Business Machines Corporation during the fourth quarter valued at $195,000. Retirement Planning Group acquired a new position in shares of International Business Machines Corporation during the first quarter worth approximately $212,000. Finally, Sheets Smith Wealth Management boosted its position in shares of International Business Machines Corporation by 1.7% in the first quarter. Sheets Smith Wealth Management now owns 1,269 shares of the technology company’s stock worth $221,000 after buying an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 58.18% of the company’s stock.

International Business Machines Corporation (IBM) opened at 145.99 on Tuesday. The company has a market cap of $136.49 billion, a P/E ratio of 12.12 and a beta of 0.98. The firm has a 50-day moving average price of $153.09 and a 200-day moving average price of $164.83. International Business Machines Corporation has a 12-month low of $145.80 and a 12-month high of $182.79.

International Business Machines Corporation (NYSE:IBM) last issued its earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.45 billion. During the same period in the prior year, the business earned $2.95 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts forecast that International Business Machines Corporation will post $13.73 earnings per share for the current fiscal year.

A number of research analysts have commented on IBM shares. Sanford C. Bernstein reiterated a “neutral” rating and set a $150.00 price target on shares of International Business Machines Corporation in a research report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reduced their price target on shares of International Business Machines Corporation from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Vetr upgraded shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $147.02 price target on the stock in a research report on Wednesday, June 7th. Credit Suisse Group reiterated an “underperform” rating and set a $110.00 price target (down from $125.00) on shares of International Business Machines Corporation in a research report on Monday, July 17th. Finally, UBS AG reiterated a “neutral” rating and set a $159.00 price target (down from $167.00) on shares of International Business Machines Corporation in a research report on Saturday. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $157.50.

In related news, Director James W. Owens acquired 1,718 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $153.19 per share, for a total transaction of $263,180.42. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

International Business Machines Corporation 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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