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

Rialto Wealth Management LLC acquired a new position in International Business Machines Co. (NYSE:IBM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 161 shares of the technology company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Compass Financial Services Inc bought a new position in International Business Machines in the fourth quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the 4th quarter worth approximately $31,000. Avondale Wealth Management raised its position in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake 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 period. Finally, Modus Advisors LLC bought a new stake in shares of International Business Machines during the fourth quarter valued at approximately $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 5.2 %

Shares of NYSE:IBM opened at $261.67 on Monday. International Business Machines Co. has a 1 year low of $162.62 and a 1 year high of $265.72. The stock’s fifty day moving average price is $241.29 and its 200-day moving average price is $226.62. The company has a market cap of $242.63 billion, a P/E ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74. 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 (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%. Sell-side analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. International Business Machines’s dividend payout ratio is presently 104.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBM shares. JPMorgan Chase & Co. increased their price objective on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Morgan Stanley increased their price target on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Bank of America upped their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $231.44.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

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.