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

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

Other large investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its holdings in International Business Machines by 98,797.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares during the last quarter. Norges Bank acquired a new stake in shares of International Business Machines during the 4th quarter worth about $876,014,000. Morgan Stanley lifted its stake in shares of International Business Machines by 22.8% during the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock worth $2,337,660,000 after buying an additional 3,084,458 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of International Business Machines by 35.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after buying an additional 1,163,790 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of International Business Machines by 7.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,297,545 shares of the technology company’s stock worth $2,119,007,000 after buying an additional 1,105,170 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

IBM has been the topic of a number of recent research reports. Societe Generale reaffirmed a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. BMO Capital Markets raised their target price on shares of International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Stifel Nicolaus raised their target price on shares of International Business Machines from $144.00 to $183.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Bank of America upped their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $176.85.

International Business Machines Stock Performance

NYSE IBM traded up $0.42 during trading hours on Thursday, reaching $191.22. 369,196 shares of the company were exchanged, compared to its average volume of 5,165,326. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The business’s 50 day simple moving average is $186.30 and its 200-day simple moving average is $163.98. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $175.30 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.69 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted 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 firm had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.60 earnings per share. On average, equities research analysts expect that International Business Machines Co. will post 10.07 earnings per share for the current year.

International Business Machines Dividend Announcement

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

About International Business Machines

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.