Cerity Partners LLC Has $66.26 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Cerity Partners LLC increased its position in International Business Machines Co. (NYSE:IBM) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,691 shares of the technology company’s stock after purchasing an additional 2,648 shares during the quarter. Cerity Partners LLC’s holdings in International Business Machines were worth $66,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. boosted its holdings in International Business Machines by 1.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,649 shares of the technology company’s stock worth $3,239,000 after buying an additional 180 shares during the last quarter. Certified Advisory Corp boosted its holdings in International Business Machines by 43.8% during the third quarter. Certified Advisory Corp now owns 6,678 shares of the technology company’s stock worth $1,476,000 after buying an additional 2,035 shares during the last quarter. Waddell & Associates LLC boosted its holdings in International Business Machines by 7.4% during the third quarter. Waddell & Associates LLC now owns 4,461 shares of the technology company’s stock worth $986,000 after buying an additional 309 shares during the last quarter. Nwam LLC bought a new position in shares of International Business Machines during the 3rd quarter valued at about $2,139,000. Finally, Meridian Wealth Management LLC bought a new position in shares of International Business Machines during the 3rd quarter valued at about $12,802,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America lifted their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Stock Performance

IBM opened at $222.97 on Friday. The business has a fifty day simple moving average of $219.45 and a 200 day simple moving average of $195.39. The company has a market capitalization of $206.17 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 4.99 and a beta of 0.71. International Business Machines Co. has a 1 year low of $153.92 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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 the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.20 EPS. Research analysts expect that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 3.00%. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.07% of the company’s stock.

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.