International Business Machines Co. (IBM) to Distribute Quarterly Dividend of $1.67 on June 10th

International Business Machines Co. (NYSE:IBM) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 1.67 per share by the technology company on Monday, June 10th. This represents a $6.68 annualized dividend and a dividend yield of 4.06%. This is an increase from International Business Machines’s previous quarterly dividend of $1.66.

International Business Machines has increased its dividend by an average of 0.6% per year over the last three years and has raised its dividend every year for the last 28 years. International Business Machines has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $10.39 per share next year, which means the company should continue to be able to cover its $6.64 annual dividend with an expected future payout ratio of 63.9%.

International Business Machines Price Performance

Shares of IBM stock opened at $164.36 on Thursday. The firm’s 50 day moving average price is $186.54 and its two-hundred day moving average price is $170.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.09 and a current ratio of 1.13. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a market cap of $150.68 billion, a PE ratio of 18.61, a PEG ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the company earned $1.36 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, analysts forecast that International Business Machines will post 9.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IBM shares. Societe Generale reiterated a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a research report on Friday, January 5th. Bank of America lifted their price target on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley lowered their price objective on shares of International Business Machines from $186.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Sanford C. Bernstein lifted their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Finally, UBS Group increased their price target on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.29.

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.