Eagle Rock Investment Company LLC Has $3.32 Million Stock Holdings in International Business Machines Co. (NYSE:IBM)

Eagle Rock Investment Company LLC cut its stake in International Business Machines Co. (NYSE:IBM) by 16.2% during the first quarter, HoldingsChannel reports. The fund owned 13,364 shares of the technology company’s stock after selling 2,575 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in International Business Machines were worth $3,323,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IBM. Tallon Kerry Patrick bought a new stake in International Business Machines in the fourth quarter worth $902,000. Brighton Jones LLC boosted its holdings 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 in the last quarter. Trilogy Capital Inc. boosted its holdings 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 in the last quarter. Financial Advocates Investment Management boosted its holdings 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 in the last quarter. Finally, Silver Oak Securities Incorporated boosted its holdings 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 in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Up 0.8%

Shares of IBM opened at $268.95 on Friday. The company has a 50-day simple moving average of $248.17 and a 200-day simple moving average of $241.79. The firm has a market capitalization of $249.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 52 week low of $166.81 and a 52 week high of $270.17.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.50%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. International Business Machines’s dividend payout ratio is 115.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IBM shares. Jefferies Financial Group reiterated a “hold” rating on shares of International Business Machines in a report on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a report on Thursday, April 24th. Oppenheimer began coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Finally, BMO Capital Markets restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $249.06.

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.