Hartline Investment Corp Sells 656 Shares of International Business Machines Co. (NYSE:IBM)

Hartline Investment Corp cut its holdings in shares of International Business Machines Co. (NYSE:IBM) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,014 shares of the technology company’s stock after selling 656 shares during the period. International Business Machines comprises approximately 1.4% of Hartline Investment Corp’s investment portfolio, making the stock its 18th biggest position. Hartline Investment Corp’s holdings in International Business Machines were worth $12,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in International Business Machines during the fourth quarter worth $1,940,000. Tranquilli Financial Advisor LLC bought a new stake in International Business Machines during the fourth quarter worth $373,000. Philip James Wealth Mangement LLC bought a new stake in International Business Machines during the third quarter worth $5,117,000. Finally, Nordea Investment Management AB lifted its stake in International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 4,625 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IBM. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group increased their price target on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Wedbush began coverage on International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $225.53.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $248.95 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business has a 50-day moving average price of $229.76 and a two-hundred day moving average price of $217.38. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $265.72. The company has a market cap of $230.19 billion, a P/E ratio of 38.84, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, analysts anticipate that International Business Machines Co. will post 10.75 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.68%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.