Patten & Patten INC Raised Its International Business Machine (IBM) Holding by $5.23 Million as Stock Value Declined

June 20, 2017 - By Vivian Park

Investors sentiment is 0.91 in 2016 Q4. Its the same as in 2016Q3. It is without change, as 83 investors sold IBM shares while 629 reduced holdings. only 113 funds opened positions while 533 raised stakes. 547.10 million shares or 2.12% more from 535.77 million shares in 2016Q3 were reported. Cape Cod Five Cents Bankshares holds 0.79% or 26,854 shares in its portfolio. Braver Wealth Mngmt Ltd holds 0.25% in International Business Machines Corp. (NYSE:IBM) or 9,261 shares. Mercer Capital Advisers Incorporated reported 8,756 shares stake. Roosevelt Investment Grp Incorporated, a New York-based fund reported 4,480 shares. Altfest L J And Inc accumulated 24,954 shares. West Coast Limited Co has invested 1.39% of its portfolio in International Business Machines Corp. (NYSE:IBM). Oppenheimer & has 0.68% invested in International Business Machines Corp. (NYSE:IBM) for 141,108 shares. Sequoia Advsrs Lc stated it has 28,289 shares. Washington holds 0.53% of its portfolio in International Business Machines Corp. (NYSE:IBM) for 49,250 shares. First Allied Advisory Serv reported 67,758 shares or 0.57% of all its holdings. 3,809 are owned by Forbes J M Com Llp. First National accumulated 27,646 shares. Palladium Prns Lc invested in 34,470 shares. Ci Invs accumulated 39,904 shares. Asset Mngmt Advisors Limited Liability Corp accumulated 45,979 shares or 7.13% of the stock.

Since February 7, 2017, it had 1 insider buy, and 2 insider sales for $732,394 activity. KAVANAUGH JAMES J also sold $99,674 worth of International Business Machines Corp. (NYSE:IBM) shares. Gherson Diane J sold $895,900 worth of stock or 5,000 shares.

Patten & Patten Inc increased its stake in International Business Machine (IBM) by 160.66% based on its latest 2016Q4 regulatory filing with the SEC. Patten & Patten Inc bought 31,671 shares as the company’s stock declined 15.88% while stock markets rallied. The institutional investor held 51,384 shares of the computer manufacturing company at the end of 2016Q4, valued at $8.53M, up from 19,713 at the end of the previous reported quarter. Patten & Patten Inc who had been investing in International Business Machine for a number of months, seems to be bullish on the $144.67 billion market cap company. The stock declined 0.21% or $0.32 reaching $154.52 on the news. About 324,541 shares traded. International Business Machines Corp. (NYSE:IBM) has risen 4.86% since June 20, 2016 and is uptrending. It has underperformed by 11.84% the S&P500.

More notable recent International Business Machines Corp. (NYSE:IBM) news were published by: Seekingalpha.com which released: “IBM In The Garden Portfolio” on June 19, 2017, also Seekingalpha.com with their article: “Facebook Deals IBM Cloud A Blow” published on June 07, 2017, Fool.com published: “Better Buy: International Business Machines Corporation vs. Oracle” on June 13, 2017. More interesting news about International Business Machines Corp. (NYSE:IBM) were released by: Fool.com and their article: “International Business Machines Corporation in 7 Charts” published on June 17, 2017 as well as Investorplace.com‘s news article titled: “International Business Machines Corp. (IBM) Leads the Silicon Race” with publication date: June 07, 2017.

International Business Machines Corp. (NYSE:IBM) Ratings Coverage

Among 26 analysts covering International Business Machines (NYSE:IBM), 7 have Buy rating, 5 Sell and 14 Hold. Therefore 27% are positive. International Business Machines had 71 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, January 18. Drexel Hamilton initiated the shares of IBM in report on Friday, October 9 with “Buy” rating. JP Morgan maintained International Business Machines Corp. (NYSE:IBM) on Tuesday, April 19 with “Neutral” rating. RBC Capital Markets maintained International Business Machines Corp. (NYSE:IBM) rating on Wednesday, April 19. RBC Capital Markets has “Sector Perform” rating and $180 target. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, July 19. The company was downgraded on Wednesday, April 19 by Societe Generale. The firm has “Underperform” rating by Credit Suisse given on Wednesday, October 12. The firm has “Neutral” rating by Citigroup given on Wednesday, October 21. JMP Securities initiated the shares of IBM in report on Friday, November 20 with “Market Perform” rating. The firm earned “Sector Perform” rating on Monday, October 5 by RBC Capital Markets.

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