International Business Machines (IBM) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
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.
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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.
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