Trade Report: The International Business Machines Corp. (IBM) Sees Large Volume Increase Following Better-Than-Expected Earnings

The International Business Machines Corp. (IBM) Sees Large Volume Increase Following Better-Than-Expected Earnings

International Business Machines Corp. (NYSE:IBM) shares saw unusually-high trading volume on Monday after the company announced better than expected quarterly earnings. Approximately 5,458,647 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 3,096,401 shares.The stock last traded at $154.77 and had previously closed at $154.45.

The technology company reported $3.29 EPS for the quarter, beating the consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The business earned $19.23 billion during the quarter, compared to analyst estimates of $19 billion. During the same quarter in the previous year, the business posted $3.34 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year.

IBM has been the subject of several recent research reports. Societe Generale upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Zacks Investment Research lowered shares of International Business Machines Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $147.00 price target on shares of International Business Machines Corp. in a report on Wednesday, October 12th. Vetr upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price target for the company in a report on Monday, August 29th. Finally, JMP Securities reiterated a “buy” rating and set a $157.00 price objective on shares of International Business Machines Corp. in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $154.47.

In related news, insider John E. Kelly III sold 6,698 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total transaction of $305,905.52. Following the completion of the sale, the insider now directly owns 35,861 shares of the company’s stock, valued at approximately $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. HL Financial Services LLC raised its stake in shares of International Business Machines Corp. by 1.1% in the second quarter. HL Financial Services LLC now owns 406,336 shares of the technology company’s stock worth $61,674,000 after buying an additional 4,564 shares in the last quarter. CIBC World Markets Inc. raised its stake in shares of International Business Machines Corp. by 4.4% in the second quarter. CIBC World Markets Inc. now owns 82,236 shares of the technology company’s stock worth $12,482,000 after buying an additional 3,481 shares in the last quarter. Country Club Trust Company n.a. raised its stake in shares of International Business Machines Corp. by 5.3% in the second quarter. Country Club Trust Company n.a. now owns 102,339 shares of the technology company’s stock worth $15,533,000 after buying an additional 5,182 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of International Business Machines Corp. by 8.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 71,658 shares of the technology company’s stock worth $10,877,000 after buying an additional 5,843 shares in the last quarter. Finally, Montag A & Associates Inc. raised its stake in shares of International Business Machines Corp. by 1.3% in the second quarter. Montag A & Associates Inc. now owns 43,807 shares of the technology company’s stock worth $6,649,000 after buying an additional 553 shares in the last quarter. 57.63% of the stock is owned by hedge funds and other institutional investors.

The stock’s 50 day moving average price is $156.75 and its 200 day moving average price is $154.35. The stock has a market capitalization of $147.94 billion, a PE ratio of 12.59 and a beta of 0.88.

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