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

Procyon Advisors LLC boosted its position in International Business Machines Co. (NYSE:IBM) by 32.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,871 shares of the technology company’s stock after purchasing an additional 1,185 shares during the period. Procyon Advisors LLC’s holdings in International Business Machines were worth $797,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in shares of International Business Machines during the 2nd quarter valued at approximately $28,000. Live Oak Investment Partners bought a new position in shares of International Business Machines during the 4th quarter valued at $30,000. Briaud Financial Planning Inc bought a new position in shares of International Business Machines during the 3rd quarter valued at $31,000. PCA Investment Advisory Services Inc. bought a new stake in International Business Machines in the 2nd quarter worth $31,000. Finally, Stone House Investment Management LLC grew its holdings in International Business Machines by 971.4% in the 3rd quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after acquiring an additional 204 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IBM shares. Royal Bank of Canada raised their target price on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Jefferies Financial Group began coverage on shares of International Business Machines in a research report on Friday, January 5th. They set a “hold” rating and a $180.00 target price for the company. Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Bank of America boosted their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $176.85.

International Business Machines Stock Performance

Shares of IBM stock traded up $0.42 during trading hours 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. The stock’s 50 day moving average is $186.30 and its 200 day moving average is $163.98. International Business Machines Co. has a twelve month low of $120.55 and a twelve month high of $199.18. The firm has a market capitalization of $175.30 billion, a PE ratio of 23.47, a PEG ratio of 3.69 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 earnings per share (EPS) 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 analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.60 earnings per share. As a group, research analysts forecast that International Business Machines Co. will post 10.07 earnings per share 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 paid a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, February 8th. 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.