International Business Machines Co. (NYSE:IBM) Declares Dividend Increase – $1.67 Per Share

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 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 dividend yield of 4.03%. This is a boost from International Business Machines’s previous quarterly dividend of $1.66.

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 every year for the last 28 years. International Business Machines has a payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $10.50 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 63.2%.

International Business Machines Price Performance

International Business Machines stock traded down $1.63 during trading hours on Tuesday, hitting $165.80. 1,041,449 shares of the company traded hands, compared to its average volume of 4,962,109. The firm’s 50-day simple moving average is $187.19 and its two-hundred day simple moving average is $170.72. The firm has a market cap of $152.00 billion, a P/E ratio of 18.82, a P/E/G ratio of 4.08 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. International Business Machines has a 1-year low of $120.55 and a 1-year high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the company earned $1.36 earnings per share. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts forecast that International Business Machines will post 9.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Bank of America lifted their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Societe Generale reiterated a “sell” rating and set a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. Stifel Nicolaus reissued a “buy” rating and set a $190.00 target price on shares of International Business Machines in a research report on Wednesday, April 17th. Finally, UBS Group boosted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a “sell” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.