Hodges Capital Management Inc. Sells 1,849 Shares of International Business Machines Co. (NYSE:IBM)

Hodges Capital Management Inc. lessened its stake in shares of International Business Machines Co. (NYSE:IBM) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,184 shares of the technology company’s stock after selling 1,849 shares during the period. Hodges Capital Management Inc.’s holdings in International Business Machines were worth $10,813,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Ellenbecker Investment Group lifted its holdings in shares of International Business Machines by 2.3% during the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the period. First Affirmative Financial Network boosted its position in shares of International Business Machines by 1.5% during the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock valued at $687,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC lifted its stake in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after buying an additional 47 shares during the period. Vertex Planning Partners LLC grew its holdings in International Business Machines by 3.6% in the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock worth $298,000 after purchasing an additional 47 shares during the period. Finally, Forza Wealth Management LLC raised its holdings in shares of International Business Machines by 0.4% during the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 47 shares during the period. 58.96% of the stock is owned by institutional investors.

International Business Machines Trading Down 1.1 %

NYSE IBM opened at $255.48 on Monday. The stock has a market cap of $236.23 billion, a P/E ratio of 39.86, a P/E/G ratio of 5.63 and a beta of 0.74. The stock’s fifty day moving average price is $226.61 and its 200-day moving average price is $214.76. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $261.80. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, equities analysts forecast that International Business Machines Co. will post 10.73 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.61%. International Business Machines’s payout ratio is currently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IBM shares. JPMorgan Chase & Co. lifted their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday. Sanford C. Bernstein increased their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Monday, January 27th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $225.53.

International Business Machines Company 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.