International Business Machines Co. (NYSE:IBM) is Cherry Creek Investment Advisors Inc.’s 7th Largest Position

Cherry Creek Investment Advisors Inc. lessened its holdings in International Business Machines Co. (NYSE:IBM) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,017 shares of the technology company’s stock after selling 296 shares during the period. International Business Machines accounts for approximately 4.6% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 7th largest holding. Cherry Creek Investment Advisors Inc.’s holdings in International Business Machines were worth $8,847,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter worth $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines during the first quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc boosted its stake in International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock worth $49,000 after buying an additional 100 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

NYSE:IBM opened at $232.75 on Thursday. International Business Machines Co. has a 12 month low of $136.05 and a 12 month high of $237.37. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $214.67 and a 200-day moving average price of $190.05. The stock has a market cap of $213.80 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.18 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio is presently 75.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI lifted their target price on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Morgan Stanley raised their price target on International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Bank of America raised their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $205.71.

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.