Hartline Investment Corp Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Hartline Investment Corp boosted its holdings in International Business Machines Co. (NYSE:IBM) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,489 shares of the technology company’s stock after purchasing an additional 1,400 shares during the quarter. International Business Machines comprises 1.4% of Hartline Investment Corp’s investment portfolio, making the stock its 16th largest holding. Hartline Investment Corp’s holdings in International Business Machines were worth $8,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in International Business Machines by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock valued at $11,515,290,000 after purchasing an additional 365,388 shares during the last quarter. Morgan Stanley increased its stake in International Business Machines by 13.4% in the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock valued at $2,280,968,000 after buying an additional 1,919,490 shares during the period. Northern Trust Corp increased its stake in International Business Machines by 4.2% in the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock valued at $1,398,886,000 after buying an additional 404,948 shares during the period. Bank of New York Mellon Corp increased its stake in International Business Machines by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock valued at $1,219,399,000 after buying an additional 807,357 shares during the period. Finally, California Public Employees Retirement System increased its stake in International Business Machines by 15.9% in the 3rd quarter. California Public Employees Retirement System now owns 6,345,842 shares of the technology company’s stock valued at $890,322,000 after buying an additional 871,247 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.0 %

IBM traded up $1.91 on Wednesday, reaching $184.10. 7,504,518 shares of the company’s stock were exchanged, compared to its average volume of 4,806,687. The company’s 50 day moving average is $188.35 and its 200-day moving average is $169.88. The company has a market cap of $168.77 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 3.57 and a beta of 0.70. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the company earned $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.04 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were given a $1.66 dividend. This represents a $6.64 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

Analyst Ratings Changes

Several brokerages have issued reports on IBM. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group lowered their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday. Bank of America upped their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Sanford C. Bernstein boosted their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Finally, Societe Generale reiterated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average target price of $177.23.

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.