International Business Machines (NYSE:IBM) Shares Up 0.4% After Dividend Announcement

International Business Machines Co. (NYSE:IBM - Get Free Report) shot up 0.4% on Thursday following a dividend announcement from the company. The stock traded as high as $206.22 and last traded at $205.82. 832,372 shares were traded during trading, a decline of 80% from the average session volume of 4,250,930 shares. The stock had previously closed at $204.90.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines's payout ratio is 75.65%.

Analyst Upgrades and Downgrades

IBM has been the subject of several research analyst reports. Evercore ISI increased their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Morgan Stanley reduced their price target on shares of International Business Machines from $217.00 to $208.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a "market perform" rating in a report on Thursday, October 3rd. Bank of America increased their price objective 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. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a "market perform" rating in a research report on Thursday, October 24th. 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's stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of "Hold" and an average target price of $208.12.

International Business Machines Stock Performance

The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company's 50-day moving average price is $216.38 and its two-hundred day moving average price is $190.95. The company has a market cap of $189.89 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that International Business Machines Co. will post 10.13 earnings per share for the current year.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company's stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of International Business Machines by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company's stock valued at $1,467,974,000 after purchasing an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company's stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company's stock valued at $829,431,000 after purchasing an additional 304,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company's stock valued at $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Institutional investors own 58.96% of the company's stock.

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.