Hodges Capital Management Inc. Has $2.82 Million Position in International Business Machines Corporation $IBM

Hodges Capital Management Inc. cut its position in shares of International Business Machines Corporation (NYSE:IBM) by 55.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,988 shares of the technology company’s stock after selling 12,619 shares during the quarter. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $2,818,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IBM. First National Bank of Omaha acquired a new position in International Business Machines during the 3rd quarter worth approximately $2,448,000. Maridea Wealth Management LLC acquired a new position in International Business Machines during the third quarter worth $215,000. Luts & Greenleigh Group Inc. grew its position in International Business Machines by 4.8% in the third quarter. Luts & Greenleigh Group Inc. now owns 1,296 shares of the technology company’s stock valued at $366,000 after purchasing an additional 59 shares in the last quarter. Ingalls & Snyder LLC increased its stake in International Business Machines by 4.0% in the 3rd quarter. Ingalls & Snyder LLC now owns 16,312 shares of the technology company’s stock valued at $4,603,000 after buying an additional 633 shares during the last quarter. Finally, Cornerstone Advisory LLC lifted its position in International Business Machines by 2.2% during the 3rd quarter. Cornerstone Advisory LLC now owns 3,828 shares of the technology company’s stock worth $1,080,000 after buying an additional 82 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Down 1.6%

IBM opened at $258.25 on Wednesday. The stock’s fifty day simple moving average is $297.26 and its 200 day simple moving average is $284.32. International Business Machines Corporation has a 1-year low of $214.50 and a 1-year high of $324.90. The stock has a market cap of $241.39 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. The firm had revenue of $19.69 billion during the quarter, compared to analysts’ expectations of $19.23 billion. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.92 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. International Business Machines’s dividend payout ratio is currently 60.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IBM shares. Stifel Nicolaus raised their price objective on International Business Machines from $325.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Wall Street Zen downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Royal Bank Of Canada set a $361.00 price objective on International Business Machines in a report on Thursday, January 29th. Finally, Bank of America boosted their target price on shares of International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

Insider Transactions at International Business Machines

In other news, Director David N. Farr bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were bought at an average price of $304.00 per share, with a total value of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares of the company’s stock, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

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.