Traynor Capital Management Inc. Invests $290,000 in International Business Machines Co. (NYSE:IBM)

Traynor Capital Management Inc. bought a new position in shares of International Business Machines Co. (NYSE:IBM) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,319 shares of the technology company’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Independent Wealth Network Inc. grew its position in International Business Machines by 22.3% in the 4th quarter. Independent Wealth Network Inc. now owns 1,337 shares of the technology company’s stock worth $294,000 after purchasing an additional 244 shares during the last quarter. Kelleher Financial Advisors grew its position in International Business Machines by 10.1% during the fourth quarter. Kelleher Financial Advisors now owns 1,401 shares of the technology company’s stock worth $308,000 after buying an additional 128 shares in the last quarter. Phoenix Wealth Advisors increased its stake in International Business Machines by 9.9% during the fourth quarter. Phoenix Wealth Advisors now owns 2,173 shares of the technology company’s stock valued at $478,000 after acquiring an additional 195 shares during the period. West Branch Capital LLC raised its holdings in International Business Machines by 151.9% in the 4th quarter. West Branch Capital LLC now owns 2,305 shares of the technology company’s stock valued at $507,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of International Business Machines by 13.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 218,699 shares of the technology company’s stock worth $48,077,000 after acquiring an additional 25,379 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Up 1.1 %

Shares of NYSE IBM opened at $225.63 on Friday. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $239.35. The firm’s 50-day simple moving average is $223.60 and its 200 day simple moving average is $211.90. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market cap of $208.63 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74.

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

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were paid a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Transactions at International Business Machines

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

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent research reports. Bank of America upped their target price on International Business Machines from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. 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 report on Monday, October 21st. UBS Group upped 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. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Finally, Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average 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.