IBM (NYSE:IBM) issued its earnings results on Wednesday. The technology company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.06 by $0.11, RTT News reports. The company had revenue of $19.20 billion for the quarter, compared to analysts’ expectations of $19.20 billion. IBM had a net margin of 11.22% and a return on equity of 69.56%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 earnings per share. IBM updated its FY 2019 guidance to $13.90 EPS and its FY19 guidance to $13.90 EPS.
IBM stock opened at $149.68 on Friday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.31 and a current ratio of 1.83. IBM has a fifty-two week low of $105.94 and a fifty-two week high of $154.36. The business has a 50-day moving average price of $137.84. The firm has a market cap of $132.67 billion, a PE ratio of 10.84, a PEG ratio of 2.72 and a beta of 1.25.
In related news, SVP Kenneth M. Keverian sold 2,690 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $135.50, for a total value of $364,495.00. Following the sale, the senior vice president now owns 34,665 shares of the company’s stock, valued at approximately $4,697,107.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth M. Keverian sold 2,227 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $135.15, for a total transaction of $300,979.05. Following the completion of the sale, the senior vice president now directly owns 32,878 shares in the company, valued at approximately $4,443,461.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $940,430. Corporate insiders own 0.19% of the company’s stock.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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