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

Hartline Investment Corp decreased its holdings in International Business Machines Co. (NYSE:IBM) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 56,014 shares of the technology company’s stock after selling 656 shares during the quarter. International Business Machines accounts for 1.4% of Hartline Investment Corp’s investment portfolio, making the stock its 18th biggest holding. Hartline Investment Corp’s holdings in International Business Machines were worth $12,314,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IBM. Compass Financial Services Inc bought a new position in shares of International Business Machines during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $248.95 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The company has a market cap of $230.19 billion, a P/E ratio of 38.84, a P/E/G ratio of 5.57 and a beta of 0.76. The firm’s fifty day moving average is $229.76 and its two-hundred day moving average is $217.38. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $265.72.

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

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid 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 is presently 104.21%.

Wall Street Analyst Weigh In

IBM has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America lifted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. BMO Capital Markets lifted their price objective on shares of 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.53.

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.