Rialto Wealth Management LLC Invests $35,000 in International Business Machines Co. (NYSE:IBM)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Financial Services Inc bought a new position in shares of International Business Machines in the fourth quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $31,000. Avondale Wealth Management boosted its holdings in 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 buying an additional 56 shares during the period. Valued Wealth Advisors LLC increased its stake in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in International Business Machines during the fourth quarter valued at about $40,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction on 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 directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IBM shares. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Performance

NYSE:IBM opened at $261.67 on Monday. The firm has a market capitalization of $242.63 billion, a PE ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74. The stock’s fifty day moving average is $241.29 and its 200 day moving average is $226.62. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04.

International Business Machines (NYSE:IBM) last announced its earnings results 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 net margin of 9.60% and a return on equity of 38.99%. On average, sell-side analysts anticipate that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Dividend Announcement

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

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.