Brave Asset Management Inc. raised its position in International Business Machines Corporation (NYSE:IBM) by 16.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,227 shares of the technology company’s stock after buying an additional 1,771 shares during the period. International Business Machines Corporation comprises approximately 1.2% of Brave Asset Management Inc.’s investment portfolio, making the stock its 22nd largest position. Brave Asset Management Inc.’s holdings in International Business Machines Corporation were worth $2,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBM. Legacy Private Trust Co. raised its stake in International Business Machines Corporation by 2.6% in the first quarter. Legacy Private Trust Co. now owns 6,064 shares of the technology company’s stock worth $1,056,000 after buying an additional 152 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in International Business Machines Corporation by 0.7% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,008 shares of the technology company’s stock worth $1,046,000 after buying an additional 40 shares in the last quarter. Stillwater Investment Management LLC raised its stake in International Business Machines Corporation by 1.3% in the first quarter. Stillwater Investment Management LLC now owns 13,591 shares of the technology company’s stock worth $2,367,000 after buying an additional 169 shares in the last quarter. Foundation Resource Management Inc. raised its stake in International Business Machines Corporation by 2.4% in the first quarter. Foundation Resource Management Inc. now owns 2,177 shares of the technology company’s stock worth $379,000 after buying an additional 50 shares in the last quarter. Finally, National Pension Service raised its stake in International Business Machines Corporation by 2.9% in the first quarter. National Pension Service now owns 621,961 shares of the technology company’s stock worth $108,134,000 after buying an additional 17,352 shares in the last quarter. 57.91% of the stock is owned by hedge funds and other institutional investors.

Shares of International Business Machines Corporation (NYSE IBM) traded up 0.0728% during midday trading on Tuesday, reaching $142.6138. 454,439 shares of the company’s stock traded hands. International Business Machines Corporation has a 12 month low of $139.13 and a 12 month high of $182.79. The stock has a market cap of $132.91 billion, a P/E ratio of 11.8362 and a beta of 0.97. The stock has a 50 day moving average of $145.84 and a 200-day moving average of $160.04.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same period in the prior year, the firm posted $2.95 EPS. International Business Machines Corporation’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts forecast that International Business Machines Corporation will post $13.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, August 8th. International Business Machines Corporation’s dividend payout ratio (DPR) is 49.88%.

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A number of analysts have commented on the stock. Sanford C. Bernstein reaffirmed a “neutral” rating and set a $150.00 target price on shares of International Business Machines Corporation in a report on Friday, May 5th. Vetr lowered shares of International Business Machines Corporation from a “hold” rating to a “sell” rating and set a $150.26 target price for the company. in a report on Monday, June 26th. BidaskClub raised shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Guggenheim reaffirmed a “hold” rating on shares of International Business Machines Corporation in a report on Friday, July 14th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $200.00 target price on shares of International Business Machines Corporation in a report on Tuesday, July 18th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the stock. International Business Machines Corporation currently has an average rating of “Hold” and a consensus price target of $157.41.

About International Business Machines Corporation

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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