Hodges Capital Management Inc. Has $5.23 Million Stock Position in International Business Machines Corporation $IBM

Hodges Capital Management Inc. boosted its stake in shares of International Business Machines Corporation (NYSE:IBM) by 123.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 21,577 shares of the technology company’s stock after purchasing an additional 11,917 shares during the quarter. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $5,230,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in International Business Machines in the 4th quarter worth approximately $25,000. Family CFO Inc acquired a new stake in International Business Machines during the 4th quarter valued at $25,000. Joseph Group Capital Management purchased a new stake in shares of International Business Machines in the fourth quarter valued at $28,000. Cornerstone Financial Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth $28,000. Finally, SWAN Capital LLC acquired a new stake in shares of International Business Machines in the third quarter worth $28,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBM. Weiss Ratings lowered International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Needham & Company LLC initiated coverage on International Business Machines in a research note on Wednesday, June 3rd. They set a “buy” rating on the stock. Roth Mkm reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, June 3rd. Susquehanna assumed coverage on shares of International Business Machines in a research report on Tuesday, June 23rd. They issued a “neutral” rating for the company. Finally, Oppenheimer decreased their price target on shares of International Business Machines from $380.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $306.76.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $288.95 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. International Business Machines Corporation has a one year low of $212.34 and a one year high of $332.46. The business’s 50-day moving average price is $256.99 and its two-hundred day moving average price is $266.06. The company has a market capitalization of $271.58 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. Analysts anticipate that International Business Machines Corporation will post 12.4 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. This is a boost from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines’s dividend payout ratio is presently 59.77%.

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.