International Business Machines Corp. (NYSE:IBM) updated its FY16 earnings guidance on Monday. The company provided earnings per share guidance of at least $13.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $13.51.

A number of brokerages recently issued reports on IBM. Cantor Fitzgerald set a $162.00 price target on shares of International Business Machines Corp. and gave the stock a hold rating in a research note on Saturday. Goldman Sachs Group Inc. reiterated a neutral rating and issued a $147.00 price target on shares of International Business Machines Corp. in a research note on Wednesday, October 12th. Credit Suisse Group AG reiterated an underperform rating and issued a $110.00 price target on shares of International Business Machines Corp. in a research note on Wednesday, October 12th. Sanford C. Bernstein reiterated a market perform rating and issued a $140.00 price target on shares of International Business Machines Corp. in a research note on Saturday, October 8th. Finally, Societe Generale set a $160.00 price target on shares of International Business Machines Corp. and gave the stock a neutral rating in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. International Business Machines Corp. has an average rating of Hold and a consensus target price of $154.47.

Earnings History and Estimates for International Business Machines Corp. (NYSE:IBM)

Shares of International Business Machines Corp. (NYSE:IBM) traded up 0.21% during mid-day trading on Monday, reaching $154.77. The company had a trading volume of 5,821,799 shares. The company has a market capitalization of $147.94 billion, a PE ratio of 12.59 and a beta of 0.88. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The stock’s 50-day moving average price is $156.85 and its 200 day moving average price is $154.25.

International Business Machines Corp. (NYSE:IBM) last announced its quarterly earnings results on Monday, October 17th. The technology company reported $3.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The company earned $19.23 billion during the quarter, compared to the consensus estimate of $19 billion. During the same period in the previous year, the company posted $3.34 earnings per share. International Business Machines Corp.’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that International Business Machines Corp. will post $13.51 EPS for the current year.

In other news, insider Robert J. Picciano sold 1,922 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now directly owns 35,861 shares in the company, valued at $5,707,636.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Kelly III sold 6,698 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $160.89, for a total value of $1,077,641.22. Following the completion of the sale, the insider now owns 33,576 shares of the company’s stock, valued at $5,402,042.64. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Roble Belko & Company Inc boosted its stake in International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock worth $102,000 after buying an additional 19 shares during the period. Woodmont Investment Counsel LLC boosted its stake in International Business Machines Corp. by 1.1% in the second quarter. Woodmont Investment Counsel LLC now owns 2,605 shares of the technology company’s stock worth $395,000 after buying an additional 28 shares during the period. White Pine Capital LLC boosted its stake in International Business Machines Corp. by 0.5% in the second quarter. White Pine Capital LLC now owns 6,672 shares of the technology company’s stock worth $1,013,000 after buying an additional 35 shares during the period. Lakeview Capital Partners LLC boosted its stake in International Business Machines Corp. by 1.0% in the second quarter. Lakeview Capital Partners LLC now owns 4,840 shares of the technology company’s stock worth $728,000 after buying an additional 46 shares during the period. Finally, FCG Advisors LLC boosted its stake in International Business Machines Corp. by 1.8% in the second quarter. FCG Advisors LLC now owns 3,062 shares of the technology company’s stock worth $465,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 57.63% of the company’s stock.

International Business Machines Corp. Company Profile

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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