Brave Asset Management Inc. Has $1.05 Million Position in International Business Machines Corporation (IBM)

Brave Asset Management Inc. decreased its stake in shares of International Business Machines Corporation (NYSE:IBM) by 61.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,754 shares of the technology company’s stock after selling 7,473 shares during the quarter. Brave Asset Management Inc.’s holdings in International Business Machines Corporation were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IBM. Gilman Hill Asset Management LLC lifted its position in International Business Machines Corporation by 0.4% during the first quarter. Gilman Hill Asset Management LLC now owns 3,767 shares of the technology company’s stock worth $656,000 after buying an additional 15 shares in the last quarter. Waldron LP raised its position in International Business Machines Corporation by 98.2% in the first quarter. Waldron LP now owns 4,141 shares of the technology company’s stock valued at $715,000 after purchasing an additional 2,052 shares during the period. Personal Capital Advisors Corp raised its position in International Business Machines Corporation by 145.2% in the first quarter. Personal Capital Advisors Corp now owns 6,161 shares of the technology company’s stock valued at $1,072,000 after purchasing an additional 3,648 shares during the period. First Manhattan Co. raised its position in International Business Machines Corporation by 3.7% in the first quarter. First Manhattan Co. now owns 807,697 shares of the technology company’s stock valued at $128,302,000 after purchasing an additional 28,472 shares during the period. Finally, OLD Dominion Capital Management Inc. purchased a new stake in International Business Machines Corporation in the first quarter valued at $654,000. Hedge funds and other institutional investors own 57.88% of the company’s stock.

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International Business Machines Corporation (IBM) opened at 147.62 on Thursday. The company has a 50-day moving average price of $144.97 and a 200-day moving average price of $152.25. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. The firm has a market capitalization of $137.57 billion, a P/E ratio of 12.25 and a beta of 0.95.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.23. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 EPS. On average, equities research analysts predict that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

A number of research firms have commented on IBM. Cleveland Research began coverage on International Business Machines Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $154.00 price objective (down from $166.00) on shares of International Business Machines Corporation in a research note on Wednesday, July 19th. Argus reaffirmed a “buy” rating and issued a $175.00 price objective (down from $192.00) on shares of International Business Machines Corporation in a research note on Friday, July 21st. UBS AG reaffirmed a “neutral” rating and issued a $159.00 price objective (down from $167.00) on shares of International Business Machines Corporation in a research note on Saturday, July 22nd. Finally, Vetr raised International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.68 price objective for the company in a research note on Monday, July 31st. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. International Business Machines Corporation currently has a consensus rating of “Hold” and a consensus price target of $157.12.

International Business Machines Corporation Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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

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