International Business Machines Corporation (NYSE:IBM) Shares Sold by Hartline Investment Corp

Hartline Investment Corp trimmed its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 91.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,558 shares of the technology company's stock after selling 51,456 shares during the quarter. Hartline Investment Corp's holdings in International Business Machines were worth $1,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBM. Wealth Dimensions Group Ltd. raised its holdings in International Business Machines by 1.0% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,972 shares of the technology company's stock valued at $873,000 after buying an additional 40 shares during the period. Pallas Capital Advisors LLC raised its holdings in International Business Machines by 0.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,805 shares of the technology company's stock valued at $1,195,000 after buying an additional 42 shares during the period. Titleist Asset Management LLC increased its stake in International Business Machines by 3.1% in the fourth quarter. Titleist Asset Management LLC now owns 1,431 shares of the technology company's stock worth $315,000 after purchasing an additional 43 shares during the period. Range Financial Group LLC increased its stake in shares of International Business Machines by 0.6% during the first quarter. Range Financial Group LLC now owns 7,350 shares of the technology company's stock valued at $1,828,000 after buying an additional 43 shares during the period. Finally, Private Wealth Partners LLC increased its stake in shares of International Business Machines by 1.7% during the first quarter. Private Wealth Partners LLC now owns 2,647 shares of the technology company's stock valued at $658,000 after buying an additional 43 shares during the period. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IBM shares. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a report on Thursday, April 24th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Royal Bank Of Canada raised their price objective on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $257.50.

International Business Machines Price Performance

Shares of NYSE:IBM traded up $4.01 during trading on Friday, reaching $291.66. The stock had a trading volume of 1,853,289 shares, compared to its average volume of 4,231,670. International Business Machines Corporation has a 1-year low of $174.45 and a 1-year high of $296.16. The business has a fifty day moving average price of $268.36 and a 200-day moving average price of $249.86. The stock has a market cap of $271.06 billion, a PE ratio of 50.20, a PEG ratio of 6.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. On average, equities analysts forecast that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $1.68 per share. This is a boost from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. International Business Machines's dividend payout ratio is currently 115.66%.

International Business Machines 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.