Stewart Patten Co buys $13,386,587 stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Stewart Patten Co scooped up 74 additional shares in International Business Machines Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 18, 2016. The investment management firm now holds a total of 82,961 shares of International Business Machines Corp. which is valued at $13,386,587.International Business Machines Corp. makes up approximately 2.55% of Stewart Patten Co’s portfolio.

Other Hedge Funds, Including , Coastline Trust Co boosted its stake in IBM in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 14,037 shares of International Business Machines Corp. which is valued at $2,265,010. International Business Machines Corp. makes up approx 0.45% of Coastline Trust Co’s portfolio.Capital Analysts reduced its stake in IBM by selling 74 shares or 10.96% in the most recent quarter. The Hedge Fund company now holds 601 shares of IBM which is valued at $96,076. International Business Machines Corp. makes up approx 0.02% of Capital Analysts’s portfolio.Gateway Investment Advisers reduced its stake in IBM by selling 952 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 555,794 shares of IBM which is valued at $87,826,568. International Business Machines Corp. makes up approx 0.74% of Gateway Investment Advisers’s portfolio.R.h. Dinel Investment Counsel reduced its stake in IBM by selling 360 shares or 6.16% in the most recent quarter. The Hedge Fund company now holds 5,480 shares of IBM which is valued at $865,950. International Business Machines Corp. makes up approx 0.99% of R.h. Dinel Investment Counsel’s portfolio.

International Business Machines Corp. opened for trading at $159.97 and hit $161.71 on the upside on Wednesday, eventually ending the session at $161.36, with a gain of 1.12% or 1.78 points. The heightened volatility saw the trading volume jump to 43,76,286 shares. Company has a market cap of $154,899 M.

On the company’s financial health, International Business Machines Corp. reported $2.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $2.89. The company had revenue of $20238.00 million for the quarter, compared to analysts expectations of $20063.32 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.84 EPS.

Many Wall Street Analysts have commented on International Business Machines Corp.. Company shares were Reiterated by Drexel Hamilton on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 186 from a previous price target of $166 .Company shares were Reiterated by JMP Securities on Jul 19, 2016 to “Mkt Outperform”, Firm has raised the Price Target to $ 172 from a previous price target of $157 .Company shares were Reiterated by UBS on Jul 19, 2016 to “Neutral”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .

International Business Machines Corporation is a technology company. The Company operates in five business segments: Global Technology Services (GTS) which includes Strategic Outsourcing Integrated Technology Services Cloud and Technology Support Services and also provides information technology (IT) infrastructure and business process services; Global Business Services (GBS) which offers its services across Consulting and Systems Integration Global Process Services and Application Management Services; Software which consists of middleware and operating systems software; Systems and Technology (STG) which provides infrastructure technologies and Global Financing which provides financing solutions for products or services that are critical to the end users’ business operations. Its IBM Watson Health Cloud platform collects clinical research and social data from a range of health sources and creates a cloud-based data sharing hub.

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