International Business Machines Co. (NYSE:IBM) Position Increased by Cherry Creek Investment Advisors Inc.

by · The Cerbat Gem

Cherry Creek Investment Advisors Inc. boosted its position in shares of International Business Machines Co. (NYSE:IBM – Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,190 shares of the technology company’s stock after purchasing an additional 476 shares during the quarter. International Business Machines makes up 3.9% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 9th biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in International Business Machines were worth $5,779,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC purchased a new stake in shares of International Business Machines in the second quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of International Business Machines in the second quarter valued at $28,000. Live Oak Investment Partners acquired a new position in International Business Machines in the fourth quarter valued at $30,000. PCA Investment Advisory Services Inc. acquired a new position in International Business Machines in the second quarter valued at $31,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in International Business Machines in the second quarter valued at $34,000. 56.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. Bank of America upped their price target on International Business Machines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Wedbush restated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research note on Monday, November 13th. BMO Capital Markets upped their price target on International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, Morgan Stanley dropped their price target on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $150.00.

View Our Latest Analysis on IBM

International Business Machines Price Performance

IBM stock opened at $160.81 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 0.91. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $166.34. The firm has a market cap of $146.84 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 4.36 and a beta of 0.77. The stock has a 50-day simple moving average of $151.30 and a 200-day simple moving average of $144.28.

International Business Machines (NYSE:IBM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.08. The firm had revenue of $14.75 billion during the quarter, compared to the consensus estimate of $14.73 billion. International Business Machines had a return on equity of 38.51% and a net margin of 11.32%. International Business Machines’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. On average, equities analysts predict that International Business Machines Co. will post 9.45 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Investors of record on Friday, November 10th were issued a $1.66 dividend. This represents a $6.64 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, November 9th. International Business Machines’s dividend payout ratio is currently 88.06%.

International Business Machines Company Profile

(Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.

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