Camarda Financial Buys into IBM for $864,000 as Tech Giant Sees Revenue Drop
Camarda Financial Advisors LLC has acquired a new stake in shares of International Business Machines Corporation (NYSE:IBM), purchasing 3,074 shares valued at approximately $864,000 during the second quarter. This is according to the company's most recent filing with the SEC.
As part of its quarterly earnings report, IBM reported $2.93 EPS for the quarter, meeting analysts' consensus estimates. The technology company's revenue was $17.16 billion for the quarter, down 1.1% compared to the same period last year.
The institutional investor BlackRock Inc. acquired a new stake in shares of International Business Machines during the second quarter valued at $21,586,659,000. Other institutional investors also made changes to their positions in the stock, with State Street Corp lifting its holdings by 1.0% in the 4th quarter and Geode Capital Management LLC increasing its holdings by 1.5% in the same period.
The company's shares opened at $234.06 on Friday, with a market capitalization of $220.51 billion. The stock has a P/E ratio of 20.77 and a beta of 0.71.