Illinois Municipal Retirement Fund Has $21.42 Million Position in International Business Machines Corporation (NYSE:IBM)

Illinois Municipal Retirement Fund cut its holdings in International Business Machines Corporation (NYSE:IBM - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,159 shares of the technology company's stock after selling 4,325 shares during the period. Illinois Municipal Retirement Fund's holdings in International Business Machines were worth $21,424,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Cornerstone Enterprises LLC raised its stake in International Business Machines by 7.6% during the 1st quarter. Cornerstone Enterprises LLC now owns 6,345 shares of the technology company's stock valued at $1,578,000 after purchasing an additional 448 shares during the last quarter. Wolff Financial Management LLC bought a new position in shares of International Business Machines during the 1st quarter worth about $224,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of International Business Machines by 18.2% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 14,497 shares of the technology company's stock valued at $3,559,000 after buying an additional 2,228 shares during the last quarter. Park Place Capital Corp lifted its stake in shares of International Business Machines by 42.6% in the first quarter. Park Place Capital Corp now owns 194 shares of the technology company's stock valued at $48,000 after buying an additional 58 shares during the period. Finally, Diversified Trust Co grew its position in International Business Machines by 16.5% during the first quarter. Diversified Trust Co now owns 20,652 shares of the technology company's stock worth $5,136,000 after buying an additional 2,930 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company's stock.

International Business Machines Price Performance

Shares of NYSE IBM traded down $2.24 during mid-day trading on Friday, hitting $289.69. 3,560,346 shares of the stock were exchanged, compared to its average volume of 4,218,458. International Business Machines Corporation has a twelve month low of $170.48 and a twelve month high of $296.16. The stock's fifty day simple moving average is $261.91 and its two-hundred day simple moving average is $247.14. 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 company has a market cap of $269.24 billion, a P/E ratio of 49.86, a PEG ratio of 6.11 and a beta of 0.66.

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, beating 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 37.43% and a net margin of 8.71%. The business's revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. As a group, analysts forecast that International Business Machines Corporation will post 10.78 EPS 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 $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's payout ratio is currently 115.66%.

Analyst Ratings Changes

Several research firms have commented on IBM. Wedbush upped their price target on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a research note on Thursday, April 24th. Royal Bank Of Canada lifted 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 note on Thursday, May 15th. Jefferies Financial Group restated a "hold" rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Morgan Stanley decreased their target price on shares of International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $253.75.

About International Business Machines

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.