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

International Business Machines Co. (NYSE:IBM) announced a quarterly dividend on Monday, July 29th, RTT News reports. Investors of record on Friday, August 9th will be given a dividend of 1.67 per share by the technology company on Tuesday, September 10th. This represents a $6.68 annualized dividend and a dividend yield of 3.49%.

International Business Machines has increased its dividend by an average of 0.6% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. International Business Machines has a dividend payout ratio of 64.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Business Machines to earn $10.47 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 63.8%.

International Business Machines Stock Down 0.1 %

International Business Machines stock traded down $0.25 during trading hours on Monday, hitting $191.50. The company had a trading volume of 3,334,773 shares, compared to its average volume of 4,436,752. The firm’s fifty day moving average is $174.75 and its 200-day moving average is $179.38. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a fifty-two week low of $135.87 and a fifty-two week high of $199.18. The firm has a market capitalization of $175.91 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 4.28 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that International Business Machines will post 10.06 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on IBM. Stifel Nicolaus increased their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush increased their price target on shares of International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. UBS Group lifted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. BMO Capital Markets increased their target price on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $184.93.

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.