International Business Machines (NYSE:IBM) issued its quarterly earnings results on Thursday. The technology company reported $5.18 EPS for the quarter, topping the consensus estimate of $5.17 by $0.01, Bloomberg Earnings reports. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The firm had revenue of $22.54 billion during the quarter, compared to analyst estimates of $22.03 billion. During the same quarter in the prior year, the business posted $5.01 earnings per share. International Business Machines’s revenue for the quarter was up 3.6% compared to the same quarter last year.

Shares of International Business Machines (NYSE IBM) traded up $0.66 during mid-day trading on Thursday, hitting $169.12. 14,260,000 shares of the stock traded hands, compared to its average volume of 5,060,000. The stock has a market capitalization of $156,570.00, a P/E ratio of 14.12, a PEG ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. International Business Machines has a fifty-two week low of $139.13 and a fifty-two week high of $182.79.

Several hedge funds have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc purchased a new position in shares of International Business Machines in the second quarter valued at $194,000. Koch Industries Inc. boosted its stake in shares of International Business Machines by 9,531.0% in the second quarter. Koch Industries Inc. now owns 207,163 shares of the technology company’s stock valued at $206,000 after purchasing an additional 205,012 shares during the period. Keel Point LLC boosted its stake in shares of International Business Machines by 2.2% in the second quarter. Keel Point LLC now owns 4,839 shares of the technology company’s stock valued at $744,000 after purchasing an additional 103 shares during the period. National Asset Management Inc. boosted its stake in shares of International Business Machines by 7.7% in the second quarter. National Asset Management Inc. now owns 9,282 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 660 shares during the period. Finally, Altavista Wealth Management Inc. boosted its stake in shares of International Business Machines by 0.7% in the second quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 57.12% of the company’s stock.

Several brokerages recently commented on IBM. Wedbush reaffirmed a “neutral” rating and set a $185.00 price target (up previously from $155.00) on shares of International Business Machines in a research report on Thursday. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $175.00 price target on shares of International Business Machines in a research report on Thursday, January 11th. They noted that the move was a valuation call. Societe Generale set a $152.00 price target on shares of International Business Machines and gave the stock a “sell” rating in a research report on Friday, January 12th. Barclays raised shares of International Business Machines from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $133.00 to $192.00 in a research report on Wednesday. Finally, Zacks Investment Research raised shares of International Business Machines from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $163.32.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/18/international-business-machines-ibm-announces-quarterly-earnings-results-beats-estimates-by-0-01-eps.html.

About International Business Machines

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 (NYSE:IBM)

Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.