Procyon Advisors LLC Has $797,000 Position in International Business Machines Co. (NYSE:IBM)

Procyon Advisors LLC boosted its holdings in International Business Machines Co. (NYSE:IBM) by 32.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Thrive Wealth Management LLC lifted its position in International Business Machines by 0.9% in the fourth quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock valued at $1,196,000 after purchasing an additional 64 shares during the last quarter. Journey Strategic Wealth LLC grew its stake in shares of International Business Machines by 2.9% in the third quarter. Journey Strategic Wealth LLC now owns 2,459 shares of the technology company’s stock worth $345,000 after acquiring an additional 69 shares during the last quarter. Columbia Trust Co 01012016 grew its stake in shares of International Business Machines by 3.8% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,875 shares of the technology company’s stock worth $307,000 after acquiring an additional 69 shares during the last quarter. Perkins Coie Trust Co grew its stake in shares of International Business Machines by 0.3% in the third quarter. Perkins Coie Trust Co now owns 21,220 shares of the technology company’s stock worth $2,977,000 after acquiring an additional 72 shares during the last quarter. Finally, Equitable Trust Co. boosted its position in shares of International Business Machines by 1.1% during the third quarter. Equitable Trust Co. now owns 6,792 shares of the technology company’s stock valued at $953,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of recent research reports. Societe Generale reissued a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a report on Friday, January 5th. Sanford C. Bernstein raised their price target on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Royal Bank of Canada lifted their target price on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Finally, Bank of America raised their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $176.85.

International Business Machines Trading Up 0.2 %

International Business Machines stock traded up $0.42 during mid-day trading on Thursday, hitting $191.22. The company’s stock had a trading volume of 369,196 shares, compared to its average volume of 5,165,326. The firm has a market capitalization of $175.30 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 3.69 and a beta of 0.70. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock’s fifty day moving average is $186.30 and its two-hundred day moving average is $163.98.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping the consensus estimate of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to analyst estimates of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $3.60 earnings per share. On average, analysts anticipate that International Business Machines Co. will post 10.07 EPS for the current year.

International Business Machines Announces Dividend

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