Maridea Wealth Management LLC Purchases New Position in International Business Machines Co. (NYSE:IBM)

Maridea Wealth Management LLC acquired a new position in shares of International Business Machines Co. (NYSE:IBM) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,003 shares of the technology company’s stock, valued at approximately $221,000.

Other hedge funds also recently modified their holdings of the company. Compass Financial Services Inc bought a new stake in International Business Machines during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management grew its holdings 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 during the last quarter. Valued Wealth Advisors LLC increased its stake in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in International Business Machines during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $243.83 on Friday. International Business Machines Co. has a 12 month low of $162.62 and a 12 month high of $266.45. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $226.10 billion, a PE ratio of 38.04, a PEG ratio of 5.81 and a beta of 0.74. The stock’s fifty day simple moving average is $249.51 and its 200 day simple moving average is $231.47.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio is 104.21%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Erste Group Bank raised International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $231.44.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

International Business Machines Company 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.