Hartford Financial Management Inc. Has $1.79 Million Stock Position in International Business Machines Corporation $IBM

Key Points

• Hartford Financial Management Inc. reduced its stake in International Business Machines Corporation (IBM) by 36.6%, holding 6,064 shares worth approximately $1.79 million as of the end of the last quarter.
• IBM reported $2.65 EPS for its latest quarter, surpassing estimates and indicating a 9.1% year-over-year revenue increase to $16.33 billion.
• The company declared a quarterly dividend of $1.68, reflecting an annual yield of 2.2% with a dividend payout ratio of 80.38%.

Hartford Financial Management Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 36.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,064 shares of the technology company's stock after selling 3,500 shares during the period. Hartford Financial Management Inc.'s holdings in International Business Machines were worth $1,788,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. GAMMA Investing LLC raised its holdings in International Business Machines by 19.3% during the first quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock valued at $4,400,000 after buying an additional 2,862 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of International Business Machines by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 22,051 shares of the technology company's stock worth $5,483,000 after acquiring an additional 91 shares in the last quarter. Western Wealth Management LLC boosted its stake in shares of International Business Machines by 8.0% during the 1st quarter. Western Wealth Management LLC now owns 6,584 shares of the technology company's stock worth $1,637,000 after acquiring an additional 487 shares in the last quarter. Finally, Nadler Financial Group Inc. increased its holdings in shares of International Business Machines by 28.2% during the 1st quarter. Nadler Financial Group Inc. now owns 2,583 shares of the technology company's stock valued at $642,000 after acquiring an additional 568 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on IBM shares. BMO Capital Markets lifted their price target on shares of International Business Machines from $300.00 to $305.00 and gave the company a "market perform" rating in a research report on Thursday. Weiss Ratings restated a "hold (c+)" rating on shares of International Business Machines in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on International Business Machines from $280.00 to $305.00 and gave the stock a "hold" rating in a research report on Tuesday. UBS Group boosted their price target on International Business Machines from $200.00 to $210.00 and gave the company a "sell" rating in a research note on Thursday. Finally, Bank of America lifted their price objective on International Business Machines from $310.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $288.00.

International Business Machines Stock Up 8.0%

Shares of NYSE IBM opened at $307.78 on Friday. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $310.75. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.87 and a current ratio of 0.93. The stock has a market cap of $286.05 billion, a P/E ratio of 36.82, a P/E/G ratio of 4.35 and a beta of 0.73. The firm has a 50 day moving average price of $266.21 and a 200 day moving average price of $263.57.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter in the previous year, the business earned $2.30 EPS. The firm's revenue was up 9.1% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. Analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 10th. International Business Machines's dividend payout ratio is 80.38%.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.