Washington Trust Bank buys $1,487,391 stake in International Business Machines Corp. (IBM)

International Business Machines Corp. (IBM) : Washington Trust Bank scooped up 83 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 Oct 4, 2016. The investment management firm now holds a total of 9,469 shares of International Business Machines Corp. which is valued at $1,487,391.International Business Machines Corp. makes up approximately 0.36% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Lynch Associatesin reduced its stake in IBM by selling 680 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 34,119 shares of IBM which is valued at $5,359,413. International Business Machines Corp. makes up approx 2.37% of Lynch Associatesin’s portfolio.Cacti Asset Management reduced its stake in IBM by selling 8,200 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 234,796 shares of IBM which is valued at $36,881,756. International Business Machines Corp. makes up approx 3.75% of Cacti Asset Management’s portfolio.Beacon Financial Group reduced its stake in IBM by selling 143 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 72,662 shares of IBM which is valued at $11,413,747. International Business Machines Corp. makes up approx 2.40% of Beacon Financial Group’s portfolio.Cullinan Associates Inc reduced its stake in IBM by selling 300 shares or 0.96% in the most recent quarter. The Hedge Fund company now holds 31,001 shares of IBM which is valued at $4,869,637. International Business Machines Corp. makes up approx 0.42% of Cullinan Associates Inc’s portfolio.

International Business Machines Corp. closed down -1.15 points or -0.73% at $156.46 with 28,84,146 shares getting traded on Tuesday. Post opening the session at $157.67, the shares hit an intraday low of $155.82 and an intraday high of $158.53 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.. International Business Machines Corp. was Upgraded by Societe Generale to ” Hold” on Sep 26, 2016. International Business Machines Corp. was Downgraded by Standpoint Research to ” Hold” on Jul 25, 2016. 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 .

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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