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

International Business Machines Co. (NYSE:IBM) announced a quarterly dividend on Monday, July 29th, RTT News reports. Shareholders of record on Friday, August 9th will be paid a dividend of 1.67 per share by the technology company on Tuesday, September 10th. This represents a $6.68 annualized dividend and a yield of 3.47%.

International Business Machines has raised its dividend by an average of 0.6% per year over the last three years and has raised its dividend every year for the last 29 years. International Business Machines has a dividend payout ratio of 63.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $10.47 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 63.8%.

International Business Machines Stock Performance

Shares of IBM stock opened at $192.54 on Tuesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines has a fifty-two week low of $135.87 and a fifty-two week high of $199.18. The stock has a 50 day moving average price of $175.18 and a two-hundred day moving average price of $179.58. The company has a market capitalization of $176.87 billion, a P/E ratio of 21.69, a PEG ratio of 4.28 and a beta of 0.71.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that International Business Machines will post 10.06 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on IBM. Wedbush upped their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group increased their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus increased their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $184.93.

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.