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

International Business Machines Co. (NYSE:IBM) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors of record on Tuesday, November 12th will be paid a dividend of 1.67 per share by the technology company on Tuesday, December 10th. This represents a $6.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, November 12th.

International Business Machines has raised 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 29 years. International Business Machines has a payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 2.6 %

IBM stock opened at $205.04 on Thursday. International Business Machines has a one year low of $142.59 and a one year high of $237.37. The stock has a market capitalization of $188.35 billion, a P/E ratio of 23.22, a PEG ratio of 4.84 and a beta of 0.70. The company has a 50 day moving average price of $216.38 and a two-hundred day moving average price of $190.95. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, sell-side analysts expect that International Business Machines will post 10.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Bernstein Bank upped their price objective on 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 target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Three equities research 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. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus 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.