Procyon Advisors LLC Grows Stake in International Business Machines Corporation $IBM

Key Points

• Procyon Advisors LLC increased its stake in IBM by 18.6% in the first quarter, buying 2,437 more shares and bringing its total holdings to 15,571 shares worth about $3.77 million.
• IBM reported strong quarterly results, with earnings per share of $1.91 beating estimates and revenue rising 9.5% year over year to $15.92 billion.
• The company also raised its quarterly dividend to $1.69 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $306.28.

Procyon Advisors LLC boosted its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 18.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,571 shares of the technology company's stock after purchasing an additional 2,437 shares during the quarter. Procyon Advisors LLC's holdings in International Business Machines were worth $3,774,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of International Business Machines during the fourth quarter worth $2,446,429,000. Capital World Investors grew its stake in International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company's stock valued at $6,523,720,000 after acquiring an additional 4,976,756 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in International Business Machines by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company's stock valued at $1,663,847,000 after acquiring an additional 2,553,552 shares during the last quarter. Corient Private Wealth LLC lifted its stake in International Business Machines by 359.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company's stock worth $561,814,000 after purchasing an additional 1,484,026 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company's stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Price Performance

NYSE:IBM opened at $287.85 on Monday. The firm has a market capitalization of $270.55 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.78 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business has a 50 day simple moving average of $263.77 and a 200-day simple moving average of $265.91. International Business Machines Corporation has a 1 year low of $212.34 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $15.92 billion for the quarter, compared to the consensus estimate of $15.60 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts forecast that International Business Machines Corporation will post 12.45 EPS for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 2.3%. This is a positive change from International Business Machines's previous quarterly dividend of $1.68. The ex-dividend date was Friday, May 8th. International Business Machines's dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IBM. Wedbush set a $350.00 price target on International Business Machines in a research note on Tuesday, June 2nd. Citigroup lifted their price objective on International Business Machines from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. HSBC raised International Business Machines from a "reduce" rating to a "hold" rating and upped their price objective for the stock from $218.00 to $231.00 in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of International Business Machines from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st. Finally, Roth Capital reaffirmed a "buy" rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $306.28.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Positive Sentiment: IBM continues to get credit for growth in quantum computing and AI, including new enterprise software tools and multi-agent capabilities that could support future revenue. IBM Advances Enterprise AI Software Development with Multi-Agent Capabilities and Specialized Modernization Workflows
• Positive Sentiment: The stock still has implied upside to Susquehanna’s target, suggesting analysts see value if IBM can convert its AI and quantum strengths into stronger earnings growth. Susquehanna coverage note
• Neutral Sentiment: IBM’s latest product updates for its Bob platform and other AI tools reinforce its enterprise strategy, but these launches are not yet enough to change the near-term investment view. IBM Upgrades Bob With Multi-Agent AI
• Negative Sentiment: Starbucks’ move to build internal AI tools to replace Microsoft and IBM software highlights a potential risk to IBM’s enterprise software revenue if other large customers follow suit. There Are So Many Reasons to Like IBM Right Now—Just Not Enough to Buy the Stock
• Negative Sentiment: Analysts remain cautious heading into IBM’s upcoming Q2 earnings, with concerns that AI could pressure parts of the consulting and mainframe business even as newer growth areas expand. Susquehanna Praises IBM’s Quantum and AI Growth but Rates the Stock a Hold – Here’s Why

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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