Procyon Advisors LLC Acquires 5,118 Shares of International Business Machines Co. (NYSE:IBM)

Procyon Advisors LLC raised its stake in shares of International Business Machines Co. (NYSE:IBM) by 73.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,111 shares of the technology company’s stock after acquiring an additional 5,118 shares during the quarter. Procyon Advisors LLC’s holdings in International Business Machines were worth $2,662,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its holdings in shares of International Business Machines by 1,054.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the 3rd quarter worth about $29,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Modus Advisors LLC bought a new position in shares of International Business Machines in the 4th quarter valued at about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $43,000. Institutional investors own 58.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on IBM shares. Stifel Nicolaus raised their price objective on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America boosted their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $215.81.

International Business Machines Trading Up 1.1 %

NYSE IBM opened at $222.54 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $222.47 and a 200-day moving average of $210.23. The company has a market cap of $205.77 billion, a PE ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter last year, the firm posted $2.20 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

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.