International Business Machines Corporation (NYSE:IBM) Shareholders to Get $1.69 Quarterly Dividend

International Business Machines Corporation (NYSE:IBM) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Tuesday, November 10th will be given a dividend of $1.69 per share by the technology company on Thursday, December 10th. This represents a $6.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 10th.

International Business Machines has a dividend payout ratio of 58.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Business Machines to earn $13.20 per share next year, which means the company should continue to be able to cover its $6.76 annual dividend with an expected future payout ratio of 51.2%.

International Business Machines Stock Performance

IBM traded down $1.96 during midday trading on Thursday, reaching $249.50. The company had a trading volume of 5,218,290 shares, compared to its average volume of 7,451,099. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average of $232.36 and a two-hundred day moving average of $243.60. The company has a market cap of $235.06 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.32 and a beta of 0.73. International Business Machines has a 1 year low of $199.19 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. International Business Machines had a return on equity of 35.65% and a net margin of 15.52%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $16.82 billion. During the same period in the previous year, the firm earned $2.65 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines will post 12.34 earnings per share for the current fiscal year.

Insider Activity at International Business Machines

In other news, SVP Robert Thomas sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $230.32, for a total value of $5,758,000.00. Following the transaction, the senior vice president owned 47,800 shares of the company’s stock, valued at approximately $11,009,296. The trade was a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Institutional Trading of International Business Machines

Several hedge funds have recently bought and sold shares of the stock. Harborfront Financial Group LLC bought a new position in International Business Machines during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in International Business Machines during the 2nd quarter valued at approximately $28,000. Bare Financial Services Inc increased its stake in International Business Machines by 114.6% in the 2nd quarter. Bare Financial Services Inc now owns 103 shares of the technology company’s stock worth $29,000 after acquiring an additional 55 shares during the last quarter. Portus Wealth Advisors LLC bought a new stake in International Business Machines in the 1st quarter worth approximately $26,000. Finally, Caitlin John LLC bought a new stake in International Business Machines in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.