IBM is having an out-sized influence on the Dow Industrials Wednesday, much like Goldman Sachs did on Tuesday, as the technology bellwether's shares dive on disappointing first-quarter results. IBM's stock closed down almost 5 percent, on Wednesday. It is the fourth highest-priced stock in the price-weighted Dow Jones industrial average.

Based on its point loss, this represents a drag on the Dow of roughly 52 points. The Dow was little changed, rather than higher, because of the IBM drag Wednesday. The New York-based information technologies company, which is in the midst of transitioning its business model away from traditional hardware toward cloud computing and artificial intelligence, reported earnings Tuesday evening that beat Street estimates, but revenue that fell short.

This marked the twentieth consecutive quarter of year-over-year revenue declines for IBM.

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Further, IBM said its profit margins dipped for the quarter across numerous business segments, including ones the company has been dependent on for future growth. As of Wednesday's market close, IBM shares have lost 2 percent year-to-date, and the stock is up about 12 percent from one year ago.

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IBM shares tank, placing point drag on the Dow industrials IBM is the fourth-highest priced stock in the price-weighted Dow. Based on today's plunge, IBM shaved off more than 50 points from the average. The company reported the twentieth consecutive quarter of year-over-year revenue declines after the bell Tuesday.

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