Altus Wealth Group LLC Raises Holdings in International Business Machines Co. (NYSE:IBM)

Altus Wealth Group LLC raised its position in International Business Machines Co. (NYSE:IBM) by 14.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

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

International Business Machines Price Performance

International Business Machines stock opened at $248.15 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 52-week low of $162.62 and a 52-week high of $266.45. The firm has a market cap of $230.10 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s 50 day moving average is $244.23 and its two-hundred day moving average is $228.26.

International Business Machines (NYSE:IBM) last released its 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 return on equity of 38.99% and a net margin of 9.60%. On average, research analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer assumed coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price on the stock. Wedbush started coverage on International Business Machines in a research report on Monday, February 3rd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday, January 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $231.44.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.07% of the stock is owned by corporate insiders.

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.