Traynor Capital Management Inc. Acquires New Stake in International Business Machines Co. (NYSE:IBM)

Traynor Capital Management Inc. purchased a new stake in shares of International Business Machines Co. (NYSE:IBM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,319 shares of the technology company’s stock, valued at approximately $290,000.

Other hedge funds also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its position in shares of International Business Machines by 72.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock valued at $6,139,000 after purchasing an additional 14,874 shares in the last quarter. AXA S.A. lifted its stake in International Business Machines by 4.5% during the second quarter. AXA S.A. now owns 432,215 shares of the technology company’s stock valued at $74,752,000 after purchasing an additional 18,423 shares during the last quarter. Ameriprise Financial Inc. grew its position in International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of International Business Machines in the second quarter valued at $264,000. Finally, Delta Investment Management LLC lifted its position in shares of International Business Machines by 3.3% during the 2nd quarter. Delta Investment Management LLC now owns 5,522 shares of the technology company’s stock valued at $955,000 after acquiring an additional 176 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of IBM opened at $225.63 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $208.63 billion, a PE ratio of 32.84, a PEG ratio of 4.80 and a beta of 0.74. The firm’s 50 day moving average price is $223.60 and its 200 day moving average price is $211.90. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. As a group, research analysts expect that International Business Machines Co. will post 10.16 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.96%. International Business Machines’s dividend payout ratio is currently 97.23%.

Insider Transactions at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, UBS Group boosted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $220.73.

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.