Beaumont Financial Partners LLC Buys 500 Shares of International Business Machines Corporation (NYSE:IBM)

Beaumont Financial Partners LLC increased its position in shares of International Business Machines Corporation (NYSE:IBM) by 15.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,750 shares of the technology company’s stock after buying an additional 500 shares during the period. Beaumont Financial Partners LLC’s holdings in International Business Machines Corporation were worth $653,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Hemenway Trust Co LLC bought a new stake in International Business Machines Corporation during the fourth quarter worth about $110,000. Thomas J. Herzfeld Advisors Inc. bought a new stake in International Business Machines Corporation during the fourth quarter worth about $117,000. Capital Analysts LLC raised its stake in International Business Machines Corporation by 5.5% in the fourth quarter. Capital Analysts LLC now owns 726 shares of the technology company’s stock worth $121,000 after buying an additional 38 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake 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 worth $122,000 after buying an additional 6 shares during the last quarter. Finally, Pacific Center for Financial Services bought a new stake in International Business Machines Corporation during the fourth quarter worth about $195,000. 58.24% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Corporation (NYSE IBM) opened at 153.19 on Wednesday. International Business Machines Corporation has a 52-week low of $147.79 and a 52-week high of $182.79. The firm has a market cap of $143.92 billion, a price-to-earnings ratio of 12.60 and a beta of 0.98. The firm has a 50-day moving average of $153.09 and a 200 day moving average of $166.62.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 18th. The technology company reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.35 by $0.03. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.37 billion. International Business Machines Corporation had a net margin of 14.62% and a return on equity of 74.46%. International Business Machines Corporation’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 earnings per share. On average, equities research analysts forecast that International Business Machines Corporation will post $13.70 earnings per share for the current year.

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A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $165.00 target price on shares of International Business Machines Corporation in a research note on Wednesday. Vetr upgraded International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price objective for the company in a report on Monday, July 3rd. Cleveland Research initiated coverage on International Business Machines Corporation in a report on Thursday, June 22nd. They set a “neutral” rating for the company. Barclays PLC restated an “underweight” rating and set a $141.00 price objective (down from $144.00) on shares of International Business Machines Corporation in a report on Saturday, April 22nd. Finally, BidaskClub upgraded International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $164.60.

In other news, Director James W. Owens bought 1,718 shares of the stock in a transaction on Tuesday, May 16th. The stock was purchased at an average price of $153.19 per share, with a total value of $263,180.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.

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

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