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

International Business Machines Co. (NYSE:IBM - Get Free Report) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders 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 annualized dividend and a yield of 3.26%.

International Business Machines has raised its dividend by an average of 0.6% per year over the last three years and has increased its dividend annually for the last 29 consecutive years. International Business Machines has a payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Equities 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 2.6 %

NYSE IBM traded down $5.53 during trading hours on Wednesday, hitting $204.90. 6,943,474 shares of the company were exchanged, compared to its average volume of 4,267,146. The stock has a 50-day moving average price of $216.23 and a 200 day moving average price of $190.85. International Business Machines has a 52 week low of $142.59 and a 52 week high of $237.37. The stock has a market cap of $188.22 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that International Business Machines will post 10.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IBM has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. StockNews.com downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a "sell" rating in a research note on Wednesday, September 4th. Finally, Hsbc Global Res upgraded International Business Machines to a "moderate sell" rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $208.12.

About International Business Machines

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.