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

Hartford Investment Management Co. cut its holdings in International Business Machines Co. (NYSE:IBM) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,128 shares of the technology company’s stock after selling 856 shares during the period. Hartford Investment Management Co.’s holdings in International Business Machines were worth $12,558,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in International Business Machines by 29.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,223 shares of the technology company’s stock valued at $270,000 after buying an additional 281 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of International Business Machines during the third quarter worth about $218,000. Procyon Advisors LLC grew its stake in shares of International Business Machines by 82.0% in the third quarter. Procyon Advisors LLC now owns 6,993 shares of the technology company’s stock worth $1,546,000 after purchasing an additional 3,151 shares during the last quarter. Fiduciary Alliance LLC increased its holdings in International Business Machines by 59.2% during the 3rd quarter. Fiduciary Alliance LLC now owns 2,643 shares of the technology company’s stock valued at $584,000 after purchasing an additional 983 shares during the period. Finally, CX Institutional raised its position in International Business Machines by 6.0% during the 3rd quarter. CX Institutional now owns 6,982 shares of the technology company’s stock valued at $1,544,000 after purchasing an additional 393 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBM shares. Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted 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 report on Thursday, January 30th. Finally, StockNews.com upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $231.44.

International Business Machines Stock Up 2.2 %

Shares of NYSE:IBM opened at $254.85 on Wednesday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $265.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $230.19 and a two-hundred day simple moving average of $217.78. The stock has a market capitalization of $235.65 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 5.57 and a beta of 0.76.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating 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, research analysts anticipate that International Business Machines Co. will post 10.75 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

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

International Business Machines Company 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.