Hartline Investment Corp Acquires 1,400 Shares of International Business Machines Co. (NYSE:IBM)

Hartline Investment Corp grew its holdings in International Business Machines Co. (NYSE:IBM) by 2.7% in the 4th quarter, Holdings Channel reports. 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 accounts for 1.4% of Hartline Investment Corp’s portfolio, making the stock its 16th biggest position. Hartline Investment Corp’s holdings in International Business Machines were worth $8,585,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IBM. Bfsg LLC bought a new position in shares of International Business Machines during the fourth quarter worth about $144,000. Watershed Asset Management L.L.C. acquired a new position in International Business Machines during the fourth quarter valued at approximately $286,000. NewSquare Capital LLC boosted its position in International Business Machines by 5.3% during the fourth quarter. NewSquare Capital LLC now owns 58,683 shares of the technology company’s stock valued at $9,477,000 after purchasing an additional 2,977 shares during the last quarter. GAMMA Investing LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $946,000. Finally, Linden Thomas Advisory Services LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $201,000. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Price Performance

NYSE IBM traded up $1.91 during midday trading on Wednesday, hitting $184.10. The company had a trading volume of 7,504,518 shares, compared to its average volume of 4,806,687. The company has a market capitalization of $168.77 billion, a PE ratio of 22.56, a P/E/G ratio of 3.57 and a beta of 0.70. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a 50-day moving average price of $188.35 and a 200-day moving average price of $169.88. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18.

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

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.61%. International Business Machines’s dividend payout ratio (DPR) is currently 81.67%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBM. Stifel Nicolaus reaffirmed a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research report on Wednesday, April 17th. Sanford C. Bernstein raised their price objective on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. UBS Group raised their price objective on International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday. Finally, Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.23.

About International Business Machines

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.