International Business Machines Co. (NYSE:IBM) Shares Sold by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC cut its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,364 shares of the technology company's stock after selling 2,575 shares during the period. Eagle Rock Investment Company LLC's holdings in International Business Machines were worth $3,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IBM. Tallon Kerry Patrick acquired a new position in shares of International Business Machines during the fourth quarter worth approximately $902,000. Brighton Jones LLC lifted its position in International Business Machines by 12.4% in the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after purchasing an additional 2,323 shares during the period. Trilogy Capital Inc. lifted its position in International Business Machines by 6.0% in the fourth quarter. Trilogy Capital Inc. now owns 975 shares of the technology company's stock worth $214,000 after purchasing an additional 55 shares during the period. Financial Advocates Investment Management lifted its position in International Business Machines by 5.0% in the fourth quarter. Financial Advocates Investment Management now owns 5,761 shares of the technology company's stock worth $1,266,000 after purchasing an additional 275 shares during the period. Finally, Silver Oak Securities Incorporated lifted its position in International Business Machines by 18.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,801 shares of the technology company's stock worth $1,278,000 after purchasing an additional 891 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $268.95 on Friday. The company's fifty day moving average is $248.17 and its two-hundred day moving average is $241.79. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. International Business Machines Co. has a 12-month low of $166.81 and a 12-month high of $270.17. The company has a market cap of $249.96 billion, a P/E ratio of 41.96, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The company had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the business earned $1.68 EPS. The company's revenue was up .5% on a year-over-year basis. Equities analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $1.68 dividend. This is an increase from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.50%. International Business Machines's dividend payout ratio is 115.66%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. Erste Group Bank upgraded International Business Machines from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. KGI Securities set a $242.00 target price on International Business Machines and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of "Hold" and an average price target of $249.06.

About International Business Machines

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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