International Business Machines Corporation (NYSE:IBM) posted its quarterly earnings results on Tuesday. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02, RTT News reports. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.63 billion. During the same period last year, the firm posted $3.29 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. International Business Machines Corporation updated its FY17 guidance to at least $13.80 EPS.

Shares of International Business Machines Corporation (NYSE IBM) traded down 0.20% during trading on Tuesday, hitting $146.54. 5,970,812 shares of the stock traded hands. The company has a market cap of $136.57 billion, a PE ratio of 12.16 and a beta of 0.95. The company has a 50 day moving average of $145.27 and a 200-day moving average of $151.70. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79.

A number of research firms have recently issued reports on IBM. Zacks Investment Research downgraded shares of International Business Machines Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Cantor Fitzgerald restated a “hold” rating and issued a $154.00 price target on shares of International Business Machines Corporation in a research report on Friday. Royal Bank Of Canada restated a “hold” rating on shares of International Business Machines Corporation in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $182.00 price target on shares of International Business Machines Corporation in a research report on Friday, October 6th. Finally, ValuEngine upgraded shares of International Business Machines Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Eight 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. International Business Machines Corporation currently has an average rating of “Hold” and an average price target of $157.12.

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Several hedge funds have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of International Business Machines Corporation in the 2nd quarter valued at about $194,000. Koch Industries Inc. increased its stake in shares of International Business Machines Corporation by 9,531.0% in the 2nd quarter. Koch Industries Inc. now owns 207,163 shares of the technology company’s stock valued at $206,000 after acquiring an additional 205,012 shares during the last quarter. Keel Point LLC increased its stake in shares of International Business Machines Corporation by 2.2% in the 2nd quarter. Keel Point LLC now owns 4,839 shares of the technology company’s stock valued at $744,000 after acquiring an additional 103 shares during the last quarter. National Asset Management Inc. increased its stake in shares of International Business Machines Corporation by 7.7% in the 2nd quarter. National Asset Management Inc. now owns 9,282 shares of the technology company’s stock valued at $1,429,000 after acquiring an additional 660 shares during the last quarter. Finally, Altavista Wealth Management Inc. increased its stake in shares of International Business Machines Corporation by 0.7% in the 2nd quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after acquiring an additional 15 shares during the last quarter. 57.84% of the stock is owned by institutional investors.

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.

Earnings History for International Business Machines Corporation (NYSE:IBM)

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