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

Brave Asset Management Inc. cut its holdings in shares of International Business Machines Co. (NYSE:IBMGet Rating) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,503 shares of the technology company’s stock after selling 1,400 shares during the period. International Business Machines accounts for about 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IBM. Cibc World Market Inc. grew its position in International Business Machines by 3.1% in the 1st quarter. Cibc World Market Inc. now owns 329,303 shares of the technology company’s stock valued at $42,816,000 after buying an additional 9,996 shares during the last quarter. Capital Asset Advisory Services LLC grew its position in International Business Machines by 24.2% in the 1st quarter. Capital Asset Advisory Services LLC now owns 5,044 shares of the technology company’s stock valued at $656,000 after buying an additional 982 shares during the last quarter. Callahan Advisors LLC grew its position in International Business Machines by 37.7% in the 1st quarter. Callahan Advisors LLC now owns 2,906 shares of the technology company’s stock valued at $378,000 after buying an additional 796 shares during the last quarter. Graypoint LLC boosted its position in shares of International Business Machines by 47.9% during the 1st quarter. Graypoint LLC now owns 3,471 shares of the technology company’s stock worth $451,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in shares of International Business Machines by 6.3% during the 1st quarter. Sigma Planning Corp now owns 34,338 shares of the technology company’s stock worth $4,465,000 after purchasing an additional 2,027 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Price Performance

IBM stock traded down $2.46 during trading on Friday, hitting $122.85. The stock had a trading volume of 132,080 shares, compared to its average volume of 3,566,598. The company’s 50 day moving average price is $130.85 and its two-hundred day moving average price is $132.93. International Business Machines Co. has a 1-year low of $114.56 and a 1-year high of $146.00. The stock has a market cap of $110.96 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88.

International Business Machines (NYSE:IBMGet Rating) last announced its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $15.18 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines Co. will post 9.39 EPS for the current fiscal year.

International Business Machines Announces Dividend

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

Insider Buying and Selling at International Business Machines

In other International Business Machines news, Director David N. Farr purchased 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, for a total transaction of $125,000.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $125,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on IBM. BMO Capital Markets decreased their target price on shares of International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. Morgan Stanley decreased their target price on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Credit Suisse Group boosted their target price 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. Finally, Societe Generale cut their price target on International Business Machines to $129.00 in a research note on Tuesday, September 13th. One equities 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. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $145.18.

International Business Machines Company 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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