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

International Business Machines Co. (NYSE:IBM) declared a quarterly dividend on Monday, July 29th, RTT News reports. Shareholders of record on Friday, August 9th will be paid 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 raised its dividend by an average of 0.6% per year over the last three years and has increased 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 Performance

Shares of International Business Machines stock traded down $0.25 on Monday, hitting $191.50. The stock had a trading volume of 3,334,773 shares, compared to its average volume of 4,436,752. The company’s 50 day moving average price is $174.75 and its 200 day moving average price is $179.38. The stock has a market cap of $175.91 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 4.28 and a beta of 0.71. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines has a 52-week low of $135.87 and a 52-week high of $199.18.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the prior year, the company earned $2.18 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines will post 10.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. The Goldman Sachs Group assumed coverage on International Business Machines in a research report on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Royal Bank of Canada boosted their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Stifel Nicolaus boosted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average 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.