International Business Machines Corporation $IBM Shares Acquired by Goodman Financial Corp

Key Points

• Goodman Financial Corp increased its IBM stake by 62.3% in the first quarter, buying 18,247 more shares and bringing its total holdings to 47,534 shares worth about $11.5 million.
• IBM recently reported better-than-expected quarterly results, with EPS of $1.91 versus the $1.81 consensus and revenue of $15.92 billion, up 9.5% year over year.
• The company raised its quarterly dividend to $1.69 per share, implying a 3.1% annualized yield, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $301.83.

Goodman Financial Corp lifted its position in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 62.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,534 shares of the technology company's stock after purchasing an additional 18,247 shares during the period. International Business Machines comprises approximately 2.0% of Goodman Financial Corp's portfolio, making the stock its 24th largest position. Goodman Financial Corp's holdings in International Business Machines were worth $11,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of International Business Machines by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company's stock worth $571,000 after acquiring an additional 186 shares in the last quarter. Jump Financial LLC purchased a new position in shares of International Business Machines in the 2nd quarter valued at about $211,000. Ieq Capital LLC increased its holdings in shares of International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company's stock valued at $11,383,000 after acquiring an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP raised its position in shares of International Business Machines by 11.6% during the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company's stock worth $300,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Trading Up 3.9%

NYSE:IBM opened at $219.39 on Friday. The stock's 50 day moving average price is $264.17 and its 200 day moving average price is $263.94. The company has a market capitalization of $206.21 billion, a PE ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.68. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. International Business Machines Corporation has a 52-week low of $204.44 and a 52-week high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion during the quarter, compared to analysts' expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, research analysts anticipate that International Business Machines Corporation will post 12.33 EPS for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were given a $1.69 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. This represents a $6.76 annualized dividend and a yield of 3.1%. International Business Machines's payout ratio is currently 59.77%.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. Bank of America upped their price target on International Business Machines from $315.00 to $330.00 and gave the company a "buy" rating in a report on Monday, July 6th. Weiss Ratings cut shares of International Business Machines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. Needham & Company LLC started coverage on shares of International Business Machines in a research report on Wednesday, June 3rd. They set a "buy" rating for the company. Barclays initiated coverage on shares of International Business Machines in a report on Monday, June 1st. They issued an "overweight" rating and a $350.00 target price for the company. Finally, Wolfe Research downgraded shares of International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has an average rating of "Moderate Buy" and a consensus target price of $301.83.

Key Stories Impacting International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

International Business Machines Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.