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

International Business Machines Co. (NYSE:IBM) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 1.67 per share by the technology company on Monday, June 10th. This represents a $6.68 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, May 9th. This is a boost from International Business Machines’s previous quarterly dividend of $1.66.

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 annually for the last 28 consecutive years. International Business Machines has a dividend payout ratio of 63.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $10.39 per share next year, which means the company should continue to be able to cover its $6.64 annual dividend with an expected future payout ratio of 63.9%.

International Business Machines Stock Performance

NYSE IBM opened at $168.15 on Wednesday. The stock has a market cap of $154.46 billion, a PE ratio of 19.07, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines has a twelve month low of $120.55 and a twelve month high of $199.18. The stock has a fifty day simple moving average of $185.11 and a 200-day simple moving average of $171.88. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts anticipate that International Business Machines will post 9.92 earnings per share for the current year.

Wall Street Analyst Weigh In

IBM has been the subject of a number of research analyst reports. BMO Capital Markets lowered their target price on International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on shares of International Business Machines from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. UBS Group raised their price target on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research report on Monday, April 22nd. Finally, Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of “Hold” and an average price target of $181.29.

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.