Hourglass Capital LLC Has $7.31 Million Stake in International Business Machines Corporation $IBM

Key Points

• Hourglass Capital LLC increased its stake in International Business Machines Corporation (IBM) by 4.4%, owning 24,780 shares valued at approximately $7.31 million, making IBM the firm's 18th largest position.
• IBM reported a quarterly EPS of $2.80, exceeding analysts' estimates of $2.65, with revenue of $16.98 billion, reflecting a 7.7% increase year-over-year.
• The company also announced a quarterly dividend of $1.68, amounting to an annualized dividend yield of 2.4%, despite a high dividend payout ratio of 109.09%.

Hourglass Capital LLC lifted its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,780 shares of the technology company's stock after purchasing an additional 1,055 shares during the quarter. International Business Machines accounts for about 1.8% of Hourglass Capital LLC's portfolio, making the stock its 18th biggest position. Hourglass Capital LLC's holdings in International Business Machines were worth $7,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Werba Rubin Papier Wealth Management raised its position in shares of International Business Machines by 7.9% during the second quarter. Werba Rubin Papier Wealth Management now owns 4,154 shares of the technology company's stock worth $1,224,000 after purchasing an additional 305 shares during the period. Horst & Graben Wealth Management LLC acquired a new stake in International Business Machines in the 2nd quarter valued at approximately $240,000. Aware Super Pty Ltd as trustee of Aware Super raised its position in International Business Machines by 373.9% in the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 22,513 shares of the technology company's stock valued at $6,636,000 after buying an additional 17,762 shares during the last quarter. Evernest Financial Advisors LLC raised its position in International Business Machines by 22.9% in the 2nd quarter. Evernest Financial Advisors LLC now owns 2,504 shares of the technology company's stock valued at $738,000 after buying an additional 467 shares during the last quarter. Finally, Wealthspan Partners LLC acquired a new stake in International Business Machines in the 2nd quarter valued at approximately $201,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

International Business Machines stock opened at $280.97 on Thursday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. International Business Machines Corporation has a 52 week low of $203.51 and a 52 week high of $301.04. The stock has a market capitalization of $261.13 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 4.25 and a beta of 0.73. The stock has a fifty day moving average of $259.77 and a 200-day moving average of $261.25.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same quarter in the previous year, the firm earned $2.43 EPS. International Business Machines's revenue was up 7.7% on a year-over-year basis. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 8th. International Business Machines's dividend payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets raised their price target on International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Bank of America decreased their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Erste Group Bank downgraded International Business Machines from a "buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group lifted their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $286.38.

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.

Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corporation (NYSE:IBM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.