Hodges Capital Management Inc. Sells 24,582 Shares of International Business Machines Corporation $IBM

Hodges Capital Management Inc. lessened its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 50.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,602 shares of the technology company’s stock after selling 24,582 shares during the period. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $6,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IBM. Christopher J. Hasenberg Inc bought a new position in International Business Machines in the 1st quarter worth about $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines in the 1st quarter worth about $28,000. Dagco Inc. bought a new position in International Business Machines in the 1st quarter worth about $31,000. Silicon Valley Capital Partners boosted its stake in International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in International Business Machines in the 1st quarter worth about $45,000. Institutional investors own 58.96% of the company’s stock.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research note on Monday, July 7th. UBS Group upped their price target on shares of International Business Machines from $195.00 to $200.00 and gave the stock a “sell” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group upped their price target on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $270.67.

International Business Machines Price Performance

IBM opened at $257.01 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The stock has a market capitalization of $238.87 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.96 and a beta of 0.71. The company’s 50-day simple moving average is $258.35 and its two-hundred day simple moving average is $256.95. International Business Machines Corporation has a 52-week low of $203.51 and a 52-week high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analysts’ expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts predict that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 annualized dividend and a dividend yield of 2.6%. International Business Machines’s dividend payout ratio is presently 109.09%.

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.