Cherry Creek Investment Advisors Inc. Lowers Stock Holdings in International Business Machines Corporation (NYSE:IBM)

Cherry Creek Investment Advisors Inc. reduced its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,997 shares of the technology company's stock after selling 2,523 shares during the period. International Business Machines accounts for approximately 4.8% of Cherry Creek Investment Advisors Inc.'s portfolio, making the stock its 6th largest holding. Cherry Creek Investment Advisors Inc.'s holdings in International Business Machines were worth $9,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital World Investors grew its holdings in International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after buying an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new position in International Business Machines during the 4th quarter valued at about $1,236,176,000. GAMMA Investing LLC grew its holdings in International Business Machines by 29,564.2% during the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company's stock valued at $10,940,520,000 after buying an additional 4,384,958 shares in the last quarter. Raymond James Financial Inc. purchased a new position in International Business Machines during the 4th quarter valued at about $592,746,000. Finally, Northern Trust Corp grew its holdings in International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IBM shares. Morgan Stanley reduced their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. KGI Securities set a $242.00 target price on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Finally, UBS Group reissued a "sell" rating and set a $170.00 price objective (up previously from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. One research 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 has a consensus rating of "Hold" and a consensus price target of $253.75.

International Business Machines Stock Down 0.9%

Shares of IBM opened at $280.67 on Friday. The firm has a market cap of $260.85 billion, a P/E ratio of 48.31, a P/E/G ratio of 5.90 and a beta of 0.66. The stock has a 50 day simple moving average of $257.71 and a two-hundred day simple moving average of $245.64. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. International Business Machines Corporation has a 1 year low of $170.41 and a 1 year high of $286.91.

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

International Business Machines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is currently 115.66%.

International Business Machines Company 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.

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