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. Stockholders of record on Friday, May 10th will be paid 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 dividend yield of 4.02%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66.

International Business Machines has increased its dividend by an average of 0.6% annually over the last three years and has raised its dividend every year for the last 28 years. International Business Machines has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Business Machines to earn $10.49 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 63.3%.

International Business Machines Trading Down 0.7 %

NYSE IBM opened at $166.19 on Wednesday. The firm has a market capitalization of $152.35 billion, a P/E ratio of 18.82, a PEG ratio of 4.10 and a beta of 0.70. The business has a fifty day simple moving average of $186.85 and a 200 day simple moving average of $170.91. International Business Machines has a 12 month low of $120.55 and a 12 month high of $199.18. 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 announced its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.08. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period last year, the firm posted $1.36 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that International Business Machines will post 9.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBM has been the subject of several research analyst reports. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Royal Bank of Canada increased their price target on International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Societe Generale restated a “sell” rating and issued a $143.00 target price on shares of International Business Machines in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus price target of $184.08.

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.