Brave Asset Management Inc. Reduces Stock Holdings in International Business Machines Co. (NYSE:IBM)

Brave Asset Management Inc. reduced its holdings in International Business Machines Co. (NYSE:IBMGet Rating) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,503 shares of the technology company’s stock after selling 1,400 shares during the period. International Business Machines comprises 0.6% of Brave Asset Management Inc.’s holdings, making the stock its 28th biggest position. Brave Asset Management Inc.’s holdings in International Business Machines were worth $1,342,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IBM. IFS Advisors LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $28,000. Gleason Group Inc. acquired a new position in shares of International Business Machines in the 2nd quarter valued at $28,000. Parkside Investments LLC acquired a new position in shares of International Business Machines in the 1st quarter valued at $31,000. SJS Investment Consulting Inc. lifted its stake in shares of International Business Machines by 39.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 270 shares of the technology company’s stock valued at $35,000 after purchasing an additional 77 shares during the period. Finally, PrairieView Partners LLC lifted its stake in shares of International Business Machines by 64.2% in the 1st quarter. PrairieView Partners LLC now owns 284 shares of the technology company’s stock valued at $37,000 after purchasing an additional 111 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 2.0 %

Shares of IBM traded down $2.46 during mid-day trading on Friday, reaching $122.85. The stock had a trading volume of 132,080 shares, compared to its average volume of 3,566,598. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.88 and a quick ratio of 0.82. International Business Machines Co. has a 52-week low of $114.56 and a 52-week high of $146.00. The business’s fifty day moving average is $130.85 and its 200 day moving average is $132.93. The firm has a market cap of $110.96 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.91 and a beta of 0.84.

International Business Machines (NYSE:IBMGet Rating) last announced its quarterly earnings data on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.02. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The firm had revenue of $15.54 billion during the quarter, compared to analyst estimates of $15.18 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. International Business Machines’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines Co. will post 9.39 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 5.37%. The ex-dividend date was Tuesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IBM shares. Morgan Stanley decreased their target price on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group upped their price objective on shares of International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Societe Generale reduced their price objective on shares of International Business Machines to $129.00 in a research report on Tuesday, September 13th. Finally, BMO Capital Markets reduced their price objective on shares of International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $145.18.

Insiders Place Their Bets

In related news, Director David N. Farr bought 1,000 shares of the stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $125.00 per share, with a total value of $125,000.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $125,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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