Procyon Advisors LLC Sells 247 Shares of International Business Machines Co. (NYSE:IBM)

Procyon Advisors LLC cut its stake in International Business Machines Co. (NYSE:IBMGet Rating) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,040 shares of the technology company’s stock after selling 247 shares during the period. Procyon Advisors LLC’s holdings in International Business Machines were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of IBM. Norges Bank bought a new position in shares of International Business Machines in the fourth quarter worth about $1,025,028,000. State Street Corp raised its stake in shares of International Business Machines by 3.3% in the fourth quarter. State Street Corp now owns 53,048,681 shares of the technology company’s stock worth $7,090,487,000 after acquiring an additional 1,687,122 shares during the last quarter. Millennium Management LLC raised its stake in shares of International Business Machines by 115.2% in the fourth quarter. Millennium Management LLC now owns 212,230 shares of the technology company’s stock worth $28,367,000 after acquiring an additional 1,610,410 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of International Business Machines by 1.9% during the first quarter. Vanguard Group Inc. now owns 77,002,099 shares of the technology company’s stock worth $10,011,813,000 after buying an additional 1,448,444 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of International Business Machines by 35.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,460,023 shares of the technology company’s stock worth $579,892,000 after buying an additional 1,163,790 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $125.00 per share, for a total transaction of $125,000.00. Following the completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $125,000. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IBM shares. Morgan Stanley dropped their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. BMO Capital Markets dropped their price target on shares of International Business Machines from $152.00 to $148.00 in a research note on Tuesday, July 19th. Societe Generale dropped their price target on shares of International Business Machines to $129.00 in a research note on Tuesday, September 13th. Finally, Credit Suisse Group boosted their price target on shares of International Business Machines from $156.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $145.18.

International Business Machines Stock Up 0.4 %

Shares of NYSE:IBM opened at $127.73 on Tuesday. International Business Machines Co. has a 52 week low of $114.56 and a 52 week high of $146.00. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The company has a market capitalization of $115.36 billion, a PE ratio of 20.74, a PEG ratio of 1.94 and a beta of 0.84. The company has a 50 day moving average price of $131.90 and a two-hundred day moving average price of $133.03.

International Business Machines (NYSE:IBMGet Rating) last released its quarterly earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.02. The company had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. Analysts forecast that International Business Machines Co. will post 9.39 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 10th were issued a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend was Tuesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 107.14%.

International Business Machines Profile

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International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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