Procyon Advisors LLC Increases Stock Holdings in International Business Machines Co. (NYSE:IBM)

Procyon Advisors LLC lifted its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,205 shares of the technology company's stock after buying an additional 3,094 shares during the quarter. Procyon Advisors LLC's holdings in International Business Machines were worth $3,781,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IBM. Tallon Kerry Patrick acquired a new position in International Business Machines in the 4th quarter valued at $902,000. Brighton Jones LLC raised its stake in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock valued at $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Stratos Investment Management LLC raised its stake in International Business Machines by 14.3% in the 4th quarter. Stratos Investment Management LLC now owns 2,132 shares of the technology company's stock valued at $469,000 after purchasing an additional 266 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in International Business Machines in the 4th quarter valued at $73,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in International Business Machines by 10.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 101,805 shares of the technology company's stock valued at $22,638,000 after purchasing an additional 9,744 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IBM shares. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup restated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Royal Bank of Canada upped their target price on International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $250.31.

International Business Machines Stock Up 1.2%

Shares of NYSE IBM traded up $3.26 during midday trading on Monday, hitting $272.13. 4,330,887 shares of the company's stock were exchanged, compared to its average volume of 4,219,306. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. International Business Machines Co. has a twelve month low of $166.81 and a twelve month high of $273.41. The company has a market cap of $252.92 billion, a PE ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. The firm's fifty day simple moving average is $248.17 and its 200-day simple moving average is $242.11.

International Business Machines (NYSE:IBM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. Research analysts predict that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.47%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is currently 115.66%.

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.