The International Business Machines Corp. (IBM) Position Held by Solaris Asset Management LLC

The International Business Machines Corp. (IBM) Position Held by Solaris Asset Management LLC

Solaris Asset Management LLC held its stake in shares of International Business Machines Corp. (NYSE:IBM) during the third quarter, Holdings Channel reports. The firm owned 5,150 shares of the technology company’s stock at the end of the third quarter. Solaris Asset Management LLC’s holdings in International Business Machines Corp. were worth $818,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its stake in shares of International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares during the period. Round Table Services LLC boosted its stake in shares of International Business Machines Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 1,620 shares of the technology company’s stock worth $246,000 after buying an additional 6 shares during the period. Alpha Windward LLC boosted its stake in shares of International Business Machines Corp. by 0.7% in the third quarter. Alpha Windward LLC now owns 1,333 shares of the technology company’s stock worth $212,000 after buying an additional 9 shares during the period. Financial & Investment Management Group Ltd. boosted its stake in shares of International Business Machines Corp. by 0.7% in the third quarter. Financial & Investment Management Group Ltd. now owns 1,934 shares of the technology company’s stock worth $307,000 after buying an additional 13 shares during the period. Finally, Rench Wealth Management Inc. boosted its stake in shares of International Business Machines Corp. by 1.0% in the second quarter. Rench Wealth Management Inc. now owns 1,436 shares of the technology company’s stock worth $218,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

International Business Machines Corp. (NYSE:IBM) traded up 0.01% during midday trading on Thursday, hitting $166.81. 6,963,386 shares of the stock traded hands. The stock has a 50-day moving average of $166.15 and a 200 day moving average of $159.78. The firm has a market cap of $158.61 billion, a PE ratio of 13.59 and a beta of 0.97. International Business Machines Corp. has a 52-week low of $116.90 and a 52-week high of $169.95.

International Business Machines Corp. (NYSE:IBM) last issued its earnings results on Thursday, January 19th. The technology company reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.88 by $0.13. The firm had revenue of $21.77 billion for the quarter, compared to analysts’ expectations of $21.69 billion. International Business Machines Corp. had a net margin of 14.75% and a return on equity of 82.86%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.84 earnings per share. Equities analysts forecast that International Business Machines Corp. will post $13.47 EPS for the current year.

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $162.00 target price on shares of International Business Machines Corp. and gave the stock a “hold” rating in a research note on Saturday, October 15th. Goldman Sachs Group Inc. dropped their target price on shares of International Business Machines Corp. from $147.00 to $145.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 18th. Stifel Nicolaus upped their target price on shares of International Business Machines Corp. from $165.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, January 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $140.00 target price on shares of International Business Machines Corp. in a research note on Friday, October 21st. Finally, Vetr upgraded shares of International Business Machines Corp. from a “hold” rating to a “buy” rating and set a $166.23 target price on the stock in a research note on Thursday, December 1st. Three equities 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. The stock currently has a consensus rating of “Hold” and an average price target of $160.55.

In related news, Director David N. Farr purchased 1,300 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were bought at an average cost of $149.93 per share, for a total transaction of $194,909.00. Following the completion of the purchase, the director now directly owns 3,758 shares of the company’s stock, valued at approximately $563,436.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Kelly III sold 2,809 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $152.28, for a total transaction of $427,754.52. Following the completion of the transaction, the insider now owns 26,464 shares in the company, valued at $4,029,937.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,297 shares of company stock worth $4,306,152. 0.08% of the stock is owned by corporate insiders.

About International Business Machines Corp.

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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