International Business Machines Corporation (NYSE:IBM) Plans Quarterly Dividend of $1.69

International Business Machines Corporation (NYSE:IBM) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Monday, August 10th will be given a dividend of 1.69 per share by the technology company on Thursday, September 10th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 10th.

International Business Machines has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years. International Business Machines has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $13.16 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 51.4%.

International Business Machines Stock Down 2.1%

Shares of IBM stock opened at $206.03 on Thursday. International Business Machines has a fifty-two week low of $204.44 and a fifty-two week high of $332.46. The firm has a market capitalization of $193.64 billion, a PE ratio of 18.22, a P/E/G ratio of 2.27 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The stock’s 50-day simple moving average is $263.26 and its 200-day simple moving average is $261.42.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 22nd. The technology company reported $2.93 EPS for the quarter, hitting analysts’ consensus estimates of $2.93. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $17.48 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that International Business Machines will post 12.19 earnings per share for the current year.

Institutional Trading of International Business Machines

A number of hedge funds have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in International Business Machines by 424.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 260,740 shares of the technology company’s stock worth $77,234,000 after purchasing an additional 211,040 shares during the last quarter. Assetmark Inc. raised its holdings in shares of International Business Machines by 24.8% in the first quarter. Assetmark Inc. now owns 64,458 shares of the technology company’s stock valued at $15,624,000 after buying an additional 12,791 shares during the last quarter. GLOBALT Investments LLC GA raised its holdings in shares of International Business Machines by 19.1% in the fourth quarter. GLOBALT Investments LLC GA now owns 18,288 shares of the technology company’s stock valued at $5,417,000 after buying an additional 2,930 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of International Business Machines by 30.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 13,122 shares of the technology company’s stock worth $3,887,000 after buying an additional 3,029 shares during the period. Finally, Rice Partnership LLC purchased a new position in shares of International Business Machines during the fourth quarter worth about $3,317,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.