International Business Machines Co. (IBM) To Go Ex-Dividend on November 12th

International Business Machines Co. (NYSE:IBM) announced 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 3.13%. The ex-dividend date is Tuesday, November 12th.

International Business Machines has increased its dividend payment by an average of 0.6% annually over the last three years and has increased its dividend every year for the last 29 years. International Business Machines has a payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $10.56 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 63.3%.

International Business Machines Stock Performance

NYSE:IBM opened at $213.72 on Friday. International Business Machines has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The company has a 50 day moving average price of $218.02 and a 200 day moving average price of $192.24. The stock has a market capitalization of $197.62 billion, a P/E ratio of 31.11, a PEG ratio of 4.80 and a beta of 0.71.

International Business Machines (NYSE:IBM) last released 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 return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $2.20 EPS. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines will post 10.11 EPS for the current year.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bernstein Bank raised their price objective 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. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Finally, Bank of America upped their target price on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Three research 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 stock has an average rating of “Hold” and an average price target 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.