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

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

Other institutional investors also recently bought and sold shares of the company. Compass Financial Services Inc acquired a new position in International Business Machines in the fourth quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter valued at $31,000. Valued Wealth Advisors LLC increased its stake in 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 period. Rialto Wealth Management LLC acquired a new position in shares of International Business Machines during the fourth quarter worth about $35,000. Finally, Tacita Capital Inc increased its stake in shares of International Business Machines by 174.3% during the fourth quarter. Tacita Capital Inc now owns 192 shares of the technology company's stock worth $42,000 after acquiring an additional 122 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Robert David Thomas sold 26,543 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 45,007 shares of the company's stock, valued at approximately $11,387,221.07. This represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. UBS Group reiterated a "sell" rating and set a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $300.00 price target on shares of International Business Machines in a research note on Wednesday, May 7th. Finally, KGI Securities set a $242.00 price target on shares of International Business Machines and gave the stock a "hold" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $249.06.

International Business Machines Price Performance

Shares of NYSE IBM traded up $4.54 on Tuesday, hitting $263.17. The company's stock had a trading volume of 3,281,641 shares, compared to its average volume of 4,211,353. International Business Machines Co. has a 12-month low of $163.53 and a 12-month high of $269.28. The company has a market capitalization of $244.59 billion, a price-to-earnings ratio of 41.06, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a 50 day moving average of $245.26 and a 200-day moving average of $238.85.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 earnings per share. As a group, research analysts predict that International Business Machines Co. will post 10.78 EPS for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $1.68 per share. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.55%. International Business Machines's dividend payout ratio is 115.66%.

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.