Goodman Financial Corp boosted its stake in shares of International Business Machines Corporation (NYSE:IBM – Free Report) by 62.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,534 shares of the technology company’s stock after acquiring an additional 18,247 shares during the quarter. International Business Machines comprises 2.0% of Goodman Financial Corp’s investment portfolio, making the stock its 24th biggest holding. Goodman Financial Corp’s holdings in International Business Machines were worth $11,522,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Family CFO Inc purchased a new stake in shares of International Business Machines during the fourth quarter worth approximately $25,000. Basepoint Wealth LLC purchased a new position in International Business Machines in the 4th quarter valued at $25,000. Portus Wealth Advisors LLC purchased a new position in International Business Machines in the 1st quarter valued at $26,000. Joseph Group Capital Management acquired a new position in International Business Machines in the 4th quarter valued at $28,000. Finally, Cornerstone Financial Management LLC purchased a new position in International Business Machines during the 4th quarter worth $28,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines News Summary
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
Analyst Upgrades and Downgrades
View Our Latest Stock Report on IBM
International Business Machines Price Performance
Shares of NYSE IBM opened at $219.39 on Friday. The firm has a market capitalization of $206.21 billion, a P/E ratio of 19.40, a PEG ratio of 2.06 and a beta of 0.68. International Business Machines Corporation has a one year low of $204.44 and a one year high of $332.46. The company’s fifty day moving average is $264.17 and its two-hundred day moving average is $263.94. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The business had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Analysts forecast that International Business Machines Corporation will post 12.33 EPS for the current fiscal year.
International Business Machines Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. The ex-dividend date was Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a yield of 3.1%. International Business Machines’s dividend payout ratio (DPR) is currently 59.77%.
International Business Machines Company 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.
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