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

International Business Machines Corporation (NYSE:IBM) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 10th will be paid a dividend of $1.69 per share by the technology company on Thursday, December 10th. This represents a $6.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 10th.

International Business Machines has a payout ratio of 58.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Business Machines to earn $13.20 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 51.2%.

International Business Machines Stock Down 1.9%

Shares of IBM traded down $4.79 during mid-day trading on Thursday, hitting $246.67. 4,914,134 shares of the company’s stock were exchanged, compared to its average volume of 7,449,258. The stock’s 50-day moving average is $232.36 and its 200-day moving average is $243.60. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.79. International Business Machines has a fifty-two week low of $199.19 and a fifty-two week high of $332.46. The company has a market cap of $232.40 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.32 and a beta of 0.73.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 21st. The technology company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.10. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $16.82 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that International Business Machines will post 12.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBM shares. Royal Bank Of Canada restated an “outperform” rating and set a $270.00 price target on shares of International Business Machines in a report on Tuesday, October 13th. Argus lowered their price objective on International Business Machines from $360.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Yorkville Ives assumed coverage on shares of International Business Machines in a research note on Monday, October 5th. They set an “outperform” rating and a $275.00 target price on the stock. Citic Securities raised their target price on shares of International Business Machines from $294.00 to $297.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $250.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Moderate Buy” and a consensus price target of $262.52.

International Business Machines Company Profile

International Business Machines Corporation (NYSE:IBM), commonly known as IBM, is a global technology and consulting company that helps organizations modernize their information technology and business operations. Its offerings include hybrid cloud solutions, artificial intelligence software and services, enterprise software, IT infrastructure, cybersecurity, data analytics, and technology consulting.

IBM provides products and services to businesses, governments, and other institutions across industries and regions worldwide.