Procyon Advisors LLC Buys 1,185 Shares of International Business Machines Co. (NYSE:IBM)

Procyon Advisors LLC lifted its holdings in International Business Machines Co. (NYSE:IBM) by 32.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,871 shares of the technology company’s stock after purchasing an additional 1,185 shares during the quarter. Procyon Advisors LLC’s holdings in International Business Machines were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P grew its holdings in International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock valued at $33,459,000 after purchasing an additional 127,093 shares during the period. Roundview Capital LLC bought a new stake in International Business Machines during the first quarter valued at about $203,000. Sei Investments Co. boosted its stake in shares of International Business Machines by 35.7% in the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock worth $23,157,000 after acquiring an additional 46,756 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after acquiring an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of International Business Machines by 1.5% in the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after acquiring an additional 5,506 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IBM. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus increased their price target on International Business Machines from $144.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Jefferies Financial Group began coverage on International Business Machines in a report on Friday, January 5th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Sanford C. Bernstein increased their price target on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $176.85.

International Business Machines Price Performance

IBM stock traded up $0.42 during trading on Thursday, hitting $191.22. The stock had a trading volume of 369,196 shares, compared to its average volume of 5,165,326. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The stock has a market capitalization of $175.30 billion, a P/E ratio of 23.47, a PEG ratio of 3.69 and a beta of 0.70. The company’s 50-day moving average price is $186.30 and its two-hundred day moving average price is $163.98.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 EPS. As a group, research analysts predict that International Business Machines Co. will post 10.07 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is 81.67%.

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.