Hodges Capital Management Inc. Sells 1,995 Shares of International Business Machines Corporation $IBM

Hodges Capital Management Inc. cut its holdings in International Business Machines Corporation (NYSE:IBM) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,607 shares of the technology company’s stock after selling 1,995 shares during the period. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $6,664,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in IBM. Brighton Jones LLC grew its stake in shares of International Business Machines by 12.4% in the fourth 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 during the last quarter. New York State Common Retirement Fund boosted its holdings in International Business Machines by 2.0% in the 1st quarter. New York State Common Retirement Fund now owns 1,204,831 shares of the technology company’s stock valued at $299,593,000 after purchasing an additional 23,100 shares during the period. Schechter Investment Advisors LLC grew its position in International Business Machines by 12.5% in the 1st quarter. Schechter Investment Advisors LLC now owns 7,148 shares of the technology company’s stock worth $1,777,000 after purchasing an additional 797 shares during the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of International Business Machines by 2.7% during the 1st quarter. Pittenger & Anderson Inc. now owns 15,910 shares of the technology company’s stock worth $3,956,000 after purchasing an additional 425 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in shares of International Business Machines during the first quarter valued at about $85,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

Shares of IBM stock opened at $306.64 on Monday. The stock’s fifty day simple moving average is $279.45 and its 200 day simple moving average is $269.19. International Business Machines Corporation has a one year low of $204.07 and a one year high of $319.35. The firm has a market cap of $286.63 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 4.33 and a beta of 0.71. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period in the prior year, the company posted $2.30 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS. On average, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 10th. International Business Machines’s dividend payout ratio (DPR) is currently 80.38%.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Sanford C. Bernstein started coverage on International Business Machines in a research report on Monday, September 15th. They set a “market perform” rating and a $280.00 target price on the stock. Stifel Nicolaus decreased their price objective on International Business Machines from $310.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Jefferies Financial Group boosted their price objective on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada reduced their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Finally, Weiss Ratings raised shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, International Business Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

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.