Procyon Advisors LLC Has $3.88 Million Stock Position in International Business Machines Corporation $IBM

Procyon Advisors LLC decreased its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,160 shares of the technology company's stock after selling 2,045 shares during the period. Procyon Advisors LLC's holdings in International Business Machines were worth $3,879,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IBM. GAMMA Investing LLC lifted its position in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after acquiring an additional 4,384,958 shares in the last quarter. GQG Partners LLC bought a new stake in International Business Machines in the 1st quarter valued at $1,040,057,000. Nuveen LLC bought a new stake in International Business Machines in the 1st quarter valued at $960,386,000. Vanguard Group Inc. lifted its position in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock valued at $23,159,637,000 after acquiring an additional 1,298,515 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in International Business Machines by 41.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,987 shares of the technology company's stock valued at $787,007,000 after acquiring an additional 930,448 shares in the last quarter. 58.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Erste Group Bank cut shares of International Business Machines from a "buy" rating to a "hold" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $244.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Wedbush increased their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $275.00.

International Business Machines Trading Up 0.5%

Shares of NYSE:IBM opened at $257.45 on Wednesday. The company has a market capitalization of $239.27 billion, a P/E ratio of 41.79, a P/E/G ratio of 3.95 and a beta of 0.71. International Business Machines Corporation has a 1 year low of $203.51 and a 1 year high of $296.16. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The business's 50 day simple moving average is $256.20 and its 200 day simple moving average is $256.99.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.43 earnings per share. International Business Machines has set its FY 2025 guidance at EPS. On average, research analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 8th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. International Business Machines's dividend payout ratio is currently 109.09%.

International Business Machines 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.

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