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

International Business Machines Co. (NYSE:IBM) announced a quarterly dividend on Tuesday, January 28th,NASDAQ Dividends reports. Shareholders of record on Monday, February 10th will be given a dividend of 1.67 per share by the technology company on Monday, March 10th. This represents a $6.68 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, February 10th.

International Business Machines has increased its dividend by an average of 0.6% per year over the last three years and has increased its dividend annually for the last 25 consecutive years. International Business Machines has a dividend payout ratio of 59.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect International Business Machines to earn $10.61 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 63.0%.

International Business Machines Stock Performance

IBM stock traded up $3.47 during trading on Wednesday, reaching $229.13. 7,019,234 shares of the company’s stock were exchanged, compared to its average volume of 3,872,003. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a market cap of $211.87 billion, a PE ratio of 33.35, a P/E/G ratio of 4.78 and a beta of 0.74. The company’s fifty day moving average price is $224.95 and its 200-day moving average price is $213.44. International Business Machines has a 1-year low of $162.62 and a 1-year high of $239.35.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. On average, research analysts expect that International Business Machines will post 10.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on IBM shares. Stifel Nicolaus increased their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Monday. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Bernstein Bank lifted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $220.40.

Insider Buying and Selling

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

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.