Cherry Creek Investment Advisors Inc. Sells 497 Shares of International Business Machines Co. (NYSE:IBM)

Cherry Creek Investment Advisors Inc. trimmed its stake in International Business Machines Co. (NYSE:IBM) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,520 shares of the technology company’s stock after selling 497 shares during the quarter. International Business Machines makes up 4.3% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 7th biggest holding. Cherry Creek Investment Advisors Inc.’s holdings in International Business Machines were worth $8,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Brady Martz Wealth Solutions LLC purchased a new position in shares of International Business Machines during the fourth quarter valued at approximately $1,940,000. Philip James Wealth Mangement LLC acquired a new stake in International Business Machines during the third quarter worth approximately $5,117,000. Nordea Investment Management AB grew its stake in International Business Machines by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after acquiring an additional 4,625 shares during the period. Finally, M.E. Allison & CO. Inc. acquired a new position in International Business Machines in the 4th quarter valued at $1,034,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.3 %

Shares of IBM opened at $224.06 on Tuesday. 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 Co. has a 12 month low of $162.62 and a 12 month high of $239.35. The stock has a market cap of $207.18 billion, a PE ratio of 32.61, a P/E/G ratio of 4.78 and a beta of 0.74. The stock’s 50-day moving average is $224.33 and its two-hundred day moving average is $212.82.

International Business Machines Announces Dividend

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

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IBM has been the subject of a number of recent analyst reports. Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Bernstein Bank upped their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets raised their target price on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average 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.