West Coast Financial LLC raised its stake in International Business Machines Corporation (NYSE:IBM) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 25,899 shares of the technology company’s stock after buying an additional 81 shares during the period. International Business Machines Corporation makes up 1.3% of West Coast Financial LLC’s portfolio, making the stock its 28th largest position. West Coast Financial LLC’s holdings in International Business Machines Corporation were worth $4,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IBM. AGF Investments America Inc. boosted its position in shares of International Business Machines Corporation by 0.4% in the third quarter. AGF Investments America Inc. now owns 8,234 shares of the technology company’s stock valued at $1,308,000 after buying an additional 29 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in International Business Machines Corporation by 5.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 307,000 shares of the technology company’s stock worth $48,767,000 after buying an additional 17,000 shares during the period. Cornerstone Advisors Inc. boosted its position in International Business Machines Corporation by 132.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,720 shares of the technology company’s stock worth $273,000 after buying an additional 980 shares during the period. Cambridge Advisors Inc. boosted its position in International Business Machines Corporation by 0.4% in the third quarter. Cambridge Advisors Inc. now owns 6,100 shares of the technology company’s stock worth $969,000 after buying an additional 25 shares during the period. Finally, Bridge Creek Capital Management LLC purchased a new position in International Business Machines Corporation during the third quarter worth $1,146,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

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

International Business Machines Corporation (NYSE:IBM) traded down 0.23% during midday trading on Friday, reaching $167.57. 1,463,716 shares of the company’s stock traded hands. The firm’s 50-day moving average is $165.82 and its 200-day moving average is $159.21. International Business Machines Corporation has a 1-year low of $116.90 and a 1-year high of $169.95. The company has a market capitalization of $159.33 billion, a price-to-earnings ratio of 13.65 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Monday, October 17th. The technology company reported $3.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $0.05. The firm had revenue of $19.23 billion for the quarter, compared to the consensus estimate of $19 billion. International Business Machines Corporation had a net margin of 14.75% and a return on equity of 82.86%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.34 earnings per share. Analysts forecast that International Business Machines Corporation will post $13.50 earnings per share for the current year.

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A number of research firms recently weighed in on IBM. Societe Generale set a $160.00 target price on shares of International Business Machines Corporation and gave the company a “hold” rating in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of International Business Machines Corporation from $165.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley lifted their target price on shares of International Business Machines Corporation to $9.00 in a research note on Thursday. Guggenheim began coverage on shares of International Business Machines Corporation in a research note on Wednesday, January 4th. They set a “neutral” rating on the stock. Finally, Credit Suisse Group restated an “underperform” rating and set a $165.50 target price (up previously from $110.00) on shares of International Business Machines Corporation in a research note on Tuesday, December 13th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $152.60.

In related news, insider Kralingen Bridget A. Van sold 2,107 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $162.44, for a total transaction of $342,261.08. Following the completion of the sale, the insider now directly owns 4,147 shares in the company, valued at $673,638.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kralingen Bridget A. Van sold 330 shares of the firm’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $152.05, for a total transaction of $50,176.50. Following the sale, the insider now owns 6,977 shares of the company’s stock, valued at $1,060,852.85. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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).

5 Day Chart for NYSE:IBM

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