Hodges Capital Management Inc. Purchases 7,768 Shares of International Business Machines Co. (NYSE:IBM)

Hodges Capital Management Inc. lifted its position in International Business Machines Co. (NYSE:IBM) by 60.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,535 shares of the technology company’s stock after buying an additional 7,768 shares during the quarter. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $3,921,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Naples Money Management LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines during the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the fourth quarter worth approximately $31,000. Financial Synergies Wealth Advisors Inc. boosted its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the period. Finally, Versant Capital Management Inc boosted its position in International Business Machines by 54.6% during the first quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock worth $42,000 after purchasing an additional 77 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $172.95 on Friday. The business has a fifty day simple moving average of $169.95 and a 200 day simple moving average of $176.48. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $158.87 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.27 and a beta of 0.72. International Business Machines Co. has a one year low of $131.55 and a one year high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Sell-side analysts expect that International Business Machines Co. will post 9.9 EPS for the current year.

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.86%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date was Thursday, May 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on IBM. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. BMO Capital Markets decreased their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group cut their price target on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. BNP Paribas started coverage on International Business Machines in a report on Thursday, May 2nd. They set an “underperform” rating and a $145.00 price target for the company. Finally, UBS Group upped their price target on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.53.

International Business Machines 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.