International Business Machines Co. (NYSE:IBM) Announces Quarterly Dividend of $1.67

International Business Machines Co. (NYSE:IBM) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors of record on Tuesday, November 12th will be given a dividend of 1.67 per share by the technology company on Tuesday, December 10th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 12th.

International Business Machines has raised its dividend payment by an average of 0.6% annually over the last three years and has raised its dividend every year for the last 29 years. International Business Machines has a dividend payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $10.56 per share next year, which means the company should continue to be able to cover its $6.68 annual dividend with an expected future payout ratio of 63.3%.

International Business Machines Trading Up 0.9 %

IBM opened at $206.72 on Friday. The company has a market cap of $190.42 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70. The company has a fifty day moving average price of $216.60 and a two-hundred day moving average price of $191.05. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines has a 1-year low of $142.59 and a 1-year high of $237.37.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. Analysts predict that International Business Machines will post 10.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus boosted their target price on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price target on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $208.12.

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.