Challenger Wealth Management Takes $398,000 Position in International Business Machines Co. (NYSE:IBM)

Challenger Wealth Management bought a new stake in International Business Machines Co. (NYSE:IBM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,811 shares of the technology company's stock, valued at approximately $398,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in shares of International Business Machines during the 4th quarter worth about $902,000. Secure Asset Management LLC increased its position in International Business Machines by 55.1% during the fourth quarter. Secure Asset Management LLC now owns 4,209 shares of the technology company's stock worth $925,000 after purchasing an additional 1,495 shares during the last quarter. Brighton Jones LLC increased its position in International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Encompass More Asset Management acquired a new position in International Business Machines during the fourth quarter worth approximately $235,000. Finally, CX Institutional increased its position in International Business Machines by 2.0% during the fourth quarter. CX Institutional now owns 7,125 shares of the technology company's stock worth $1,566,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Erste Group Bank raised shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup reissued an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $249.06.

International Business Machines Stock Down 1.2%

NYSE IBM traded down $3.03 on Wednesday, reaching $260.20. The company had a trading volume of 2,315,588 shares, compared to its average volume of 4,203,801. The firm has a market capitalization of $241.83 billion, a PE ratio of 40.59, a P/E/G ratio of 5.81 and a beta of 0.64. International Business Machines Co. has a 1 year low of $163.53 and a 1 year high of $269.28. The firm has a 50-day moving average of $245.65 and a 200-day moving average of $239.02. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. International Business Machines's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. On average, equities research analysts anticipate that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.58%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the completion of the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

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.