International Business Machines Corp. (NYSE:IBM) announced a quarterly dividend on Tuesday, January 30th, RTT News reports. Investors of record on Friday, February 9th will be given a dividend of 1.50 per share by the technology company on Saturday, March 10th. This represents a $6.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, February 8th.
International Business Machines has raised its dividend by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. International Business Machines has a dividend payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Business Machines to earn $14.12 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 42.5%.
Shares of International Business Machines (IBM) opened at $150.75 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 2.25. The firm has a market cap of $140,164.81, a price-to-earnings ratio of 24.67, a PEG ratio of 2.21 and a beta of 0.94. International Business Machines has a 12 month low of $139.13 and a 12 month high of $182.79.
International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.01. International Business Machines had a net margin of 7.27% and a return on equity of 69.48%. The firm had revenue of $22.54 billion for the quarter, compared to analysts’ expectations of $22.03 billion. During the same period in the prior year, the business posted $5.01 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts expect that International Business Machines will post 13.82 EPS for the current year.
In other International Business Machines news, Director Frederick H. Waddell purchased 610 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $163.38 per share, for a total transaction of $99,661.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of International Business Machines during the second quarter worth about $194,000. Koch Industries Inc. grew its position in shares of International Business Machines by 9,531.0% during the second quarter. Koch Industries Inc. now owns 207,163 shares of the technology company’s stock worth $206,000 after buying an additional 205,012 shares in the last quarter. Keel Point LLC grew its position in shares of International Business Machines by 2.2% during the second quarter. Keel Point LLC now owns 4,839 shares of the technology company’s stock worth $744,000 after buying an additional 103 shares in the last quarter. National Asset Management Inc. grew its position in shares of International Business Machines by 7.7% during the second quarter. National Asset Management Inc. now owns 9,282 shares of the technology company’s stock worth $1,429,000 after buying an additional 660 shares in the last quarter. Finally, Altavista Wealth Management Inc. boosted its holdings in International Business Machines by 0.7% in the second quarter. Altavista Wealth Management Inc. now owns 2,193 shares of the technology company’s stock valued at $337,000 after purchasing an additional 15 shares in the last quarter. 57.08% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on IBM. Morgan Stanley cut shares of International Business Machines from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $200.00 to $205.00 in a report on Tuesday, January 23rd. Cantor Fitzgerald restated a “hold” rating and issued a $152.00 price target on shares of International Business Machines in a report on Friday, January 19th. Royal Bank of Canada restated a “buy” rating and issued a $180.00 price target on shares of International Business Machines in a report on Friday, January 19th. Societe Generale set a $149.00 price target on shares of International Business Machines and gave the company a “sell” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. set a $167.00 price objective on shares of International Business Machines and gave the company a “neutral” rating in a research report on Friday, January 19th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $164.37.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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