Hartford Investment Management Co. Sells 856 Shares of International Business Machines Co. (NYSE:IBM)

Hartford Investment Management Co. lessened its stake in International Business Machines Co. (NYSE:IBM) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,128 shares of the technology company’s stock after selling 856 shares during the quarter. Hartford Investment Management Co.’s holdings in International Business Machines were worth $12,558,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. TFB Advisors LLC lifted its position in shares of International Business Machines by 22.2% during the 4th quarter. TFB Advisors LLC now owns 1,122 shares of the technology company’s stock valued at $247,000 after buying an additional 204 shares during the last quarter. Capital Advisors Inc. OK raised its stake in International Business Machines by 0.4% in the 4th quarter. Capital Advisors Inc. OK now owns 281,891 shares of the technology company’s stock valued at $61,968,000 after acquiring an additional 1,171 shares during the period. Certuity LLC lifted its holdings in International Business Machines by 10.0% during the fourth quarter. Certuity LLC now owns 2,187 shares of the technology company’s stock valued at $481,000 after purchasing an additional 199 shares during the last quarter. Authentikos Wealth Advisory LLC boosted its position in International Business Machines by 110.0% during the fourth quarter. Authentikos Wealth Advisory LLC now owns 1,363 shares of the technology company’s stock worth $300,000 after purchasing an additional 714 shares during the period. Finally, Leavell Investment Management Inc. increased its stake in shares of International Business Machines by 3.6% in the fourth quarter. Leavell Investment Management Inc. now owns 19,158 shares of the technology company’s stock worth $4,212,000 after purchasing an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Finally, Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Price Performance

IBM stock opened at $254.85 on Wednesday. The firm has a 50 day simple moving average of $230.19 and a two-hundred day simple moving average of $217.78. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market cap of $235.65 billion, a PE ratio of 39.76, a P/E/G ratio of 5.57 and a beta of 0.76. International Business Machines Co. has a one year low of $162.62 and a one year high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. On average, analysts predict that International Business Machines Co. will post 10.75 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date is Monday, February 10th. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

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.