Cherry Creek Investment Advisors Inc. Has $8.69 Million Stake in International Business Machines Co. (NYSE:IBM)

Cherry Creek Investment Advisors Inc. trimmed its stake in shares of International Business Machines Co. (NYSE:IBM) by 1.2% during the fourth quarter, HoldingsChannel reports. The fund owned 39,520 shares of the technology company’s stock after selling 497 shares during the quarter. International Business Machines comprises approximately 4.3% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 7th largest position. Cherry Creek Investment Advisors Inc.’s holdings in International Business Machines were worth $8,688,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its stake in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $29,000. Avondale Wealth Management increased its holdings in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC raised its position in shares of International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in International Business Machines during the fourth quarter worth $40,000. 58.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

International Business Machines Price Performance

Shares of NYSE IBM opened at $224.06 on Tuesday. The firm has a 50-day moving average of $224.33 and a two-hundred day moving average of $212.82. The company has a market capitalization of $207.18 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 4.78 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines Co. has a twelve month low of $162.62 and a twelve month high of $239.35.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a yield of 2.98%. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Analyst Ratings Changes

IBM has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a research report on Monday. The Goldman Sachs Group upped their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Stifel Nicolaus upped their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus price target of $220.73.

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.