Daiwa Securities Group Inc. Purchases 6,579 Shares of International Business Machines Corporation $IBM

Daiwa Securities Group Inc. grew its position in shares of International Business Machines Corporation (NYSE:IBM) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,572 shares of the technology company's stock after purchasing an additional 6,579 shares during the period. Daiwa Securities Group Inc.'s holdings in International Business Machines were worth $70,745,000 at the end of the most recent reporting period. Basepoint Wealth LLC bought a new stake in International Business Machines in the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new position in International Business Machines during the first quarter valued at approximately $26,000. Cornerstone Financial Management LLC bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $28,000. SWAN Capital LLC purchased a new stake in shares of International Business Machines in the 3rd quarter valued at $28,000. Finally, Bare Financial Services Inc boosted its stake in shares of International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors. The Goldman Sachs Group set a $270.00 target price on shares of International Business Machines in a research report on Thursday, July 23rd. Citigroup reduced their price objective on International Business Machines from $255.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Needham & Company LLC assumed coverage on International Business Machines in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. BMO Capital Markets lowered their target price on International Business Machines from $270.00 to $230.00 and set a “market perform” rating for the company in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on International Business Machines from $291.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Sixteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.40. Shares of IBM opened at $235.78 on Friday. The company has a 50-day simple moving average of $244.57 and a two-hundred day simple moving average of $248.65. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. The firm has a market capitalization of $222.14 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.31 and a beta of 0.70. International Business Machines Corporation has a one year low of $199.19 and a one year high of $332.46. The technology company reported $2.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.93.