Creative Planning Has $66.49 Million Holdings in International Business Machines Co. (NYSE:IBM)

Creative Planning grew its position in International Business Machines Co. (NYSE:IBM) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,740 shares of the technology company’s stock after purchasing an additional 14,677 shares during the quarter. Creative Planning’s holdings in International Business Machines were worth $66,488,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IBM. Vanguard Group Inc. lifted its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC grew its position in shares of International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. Institutional investors own 58.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IBM. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets upped their price target on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $203.06.

International Business Machines Stock Performance

Shares of IBM stock opened at $232.20 on Friday. The firm has a market capitalization of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. 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 business’s 50-day moving average price is $212.19 and its 200-day moving average price is $189.15. International Business Machines Co. has a 12 month low of $135.87 and a 12 month high of $237.37.

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

International Business Machines Dividend Announcement

The business also recently announced 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. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.