Cerity Partners LLC Has $81.89 Million Stake in International Business Machines Corporation (NYSE:IBM)

Cerity Partners LLC increased its holdings in shares of International Business Machines Corporation (NYSE:IBM - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 329,317 shares of the technology company's stock after buying an additional 22,611 shares during the quarter. Cerity Partners LLC's holdings in International Business Machines were worth $81,888,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in International Business Machines during the 1st quarter worth $45,000. Park Square Financial Group LLC acquired a new stake in International Business Machines during the 4th quarter worth $43,000. Park Place Capital Corp raised its stake in International Business Machines by 42.6% during the 1st quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock worth $48,000 after buying an additional 58 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in International Business Machines during the 4th quarter worth $43,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of International Business Machines in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Stock Performance

International Business Machines stock traded down $4.10 during midday trading on Friday, reaching $283.33. 3,789,706 shares of the company's stock were exchanged, compared to its average volume of 4,240,258. International Business Machines Corporation has a 52 week low of $178.50 and a 52 week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a market cap of $263.33 billion, a price-to-earnings ratio of 48.77, a P/E/G ratio of 6.04 and a beta of 0.69. The stock's 50-day simple moving average is $273.18 and its 200 day simple moving average is $251.92.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analysts' expectations of $14.41 billion. During the same quarter last year, the company posted $1.68 earnings per share. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that International Business Machines Corporation will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.37%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is presently 115.66%.

Analyst Upgrades and Downgrades

IBM has been the topic of several recent research reports. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group reissued a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. UBS Group reissued a "sell" rating and issued a $195.00 price target (up previously from $170.00) on shares of International Business Machines in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, International Business Machines has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

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.