International Business Machines Co. (NYSE:IBM) to Issue $1.67 Quarterly Dividend

International Business Machines Co. (NYSE:IBM) announced 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 yield of 3.20%.

International Business Machines has increased its dividend payment by an average of 0.6% annually over the last three years and has raised its dividend annually for the last 29 consecutive years. International Business Machines has a payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $10.60 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 63.0%.

International Business Machines Trading Down 0.8 %

NYSE IBM traded down $1.67 on Wednesday, reaching $208.76. The company had a trading volume of 670,530 shares, compared to its average volume of 4,237,275. The firm has a market cap of $191.77 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 4.84 and a beta of 0.70. International Business Machines has a fifty-two week low of $142.59 and a fifty-two week high of $237.37. The business has a 50 day moving average of $216.23 and a two-hundred day moving average of $190.85. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued 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. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the business posted $2.20 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Analysts forecast that International Business Machines will post 10.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBM. Jefferies Financial Group raised their price target on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America lifted their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.