International Business Machines Corporation $IBM Shares Sold by Hartline Investment Corp

Key Points

• Hartline Investment Corp reduced its stake in IBM by 32.2%, now holding 3,090 shares valued at approximately $911,000.
• Analysts have increased their target prices for IBM, with Wedbush raising it from $300 to $325, while Bank of America lowered it from $320 to $310.
• IBM reported earnings of $2.80 per share, surpassing analyst estimates, with quarterly revenue increasing by 7.7% year-over-year.

Hartline Investment Corp cut its stake in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 32.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,090 shares of the technology company's stock after selling 1,468 shares during the period. Hartline Investment Corp's holdings in International Business Machines were worth $911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBM. Brighton Jones LLC lifted its position in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares in the last quarter. GAMMA Investing LLC lifted its position in International Business Machines by 19.3% during the 1st quarter. GAMMA Investing LLC now owns 17,694 shares of the technology company's stock worth $4,400,000 after acquiring an additional 2,862 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in International Business Machines by 1.5% during the 1st quarter. Johnson Investment Counsel Inc. now owns 39,905 shares of the technology company's stock worth $9,923,000 after purchasing an additional 604 shares during the last quarter. DecisionMap Wealth Management LLC raised its position in shares of International Business Machines by 16.7% in the 1st quarter. DecisionMap Wealth Management LLC now owns 1,378 shares of the technology company's stock valued at $343,000 after purchasing an additional 197 shares in the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV raised its position in shares of International Business Machines by 5.6% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 3,689 shares of the technology company's stock valued at $917,000 after purchasing an additional 196 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Wedbush upped their target price 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 reaffirmed an "outperform" rating and issued a $315.00 target price on shares of International Business Machines in a research report on Thursday. Bank of America cut their target price on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Stifel Nicolaus upped their target price on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, UBS Group upped their target price on International Business Machines from $195.00 to $200.00 and gave the company a "sell" rating in a research report on Thursday, July 24th. One 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $286.38.

International Business Machines Price Performance

Shares of NYSE IBM opened at $280.95 on Friday. International Business Machines Corporation has a twelve month low of $203.51 and a twelve month high of $301.04. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $261.12 billion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 4.24 and a beta of 0.73. The business has a 50 day simple moving average of $261.07 and a 200-day simple moving average of $261.65.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business had revenue of $16.98 billion during the quarter, compared to the consensus estimate of $16.58 billion. During the same period in the previous year, the business earned $2.43 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 8th. International Business Machines's dividend payout ratio is presently 109.09%.

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.

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