Altus Wealth Group LLC Boosts Position in International Business Machines Co. (NYSE:IBM)

Altus Wealth Group LLC raised its stake in International Business Machines Co. (NYSE:IBM) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,443 shares of the technology company’s stock after purchasing an additional 184 shares during the period. Altus Wealth Group LLC’s holdings in International Business Machines were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBM. Compass Financial Services Inc acquired a new stake in International Business Machines during the 4th quarter worth $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the fourth quarter worth about $31,000. Avondale Wealth Management increased its position in shares of International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

International Business Machines Trading Up 1.0 %

NYSE:IBM opened at $248.15 on Friday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $266.45. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a fifty day moving average price of $244.23 and a two-hundred day moving average price of $228.26. The stock has a market capitalization of $230.10 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBM. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Jefferies Financial Group upped their price target on shares of International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wedbush began coverage on shares of International Business Machines in a research report on Monday, February 3rd. They set an “outperform” rating on the stock. Bank of America upped their target price on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets raised their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $231.44.

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.