International Business Machines Co. (NYSE:IBM) Raises Dividend to $1.68 Per Share

International Business Machines Co. (NYSE:IBM - Get Free Report) declared a quarterly dividend on Tuesday, April 29th, RTT News reports. Investors of record on Friday, May 9th will be paid a dividend of 1.68 per share by the technology company on Tuesday, June 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.78%. This is a 0.6% increase from International Business Machines's previous quarterly dividend of $1.67.

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 29 years. International Business Machines has a payout ratio of 58.4% meaning its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $11.60 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 57.6%.

International Business Machines Price Performance

IBM stock traded up $2.48 during trading on Wednesday, hitting $241.87. The company had a trading volume of 5,135,394 shares, compared to its average volume of 4,206,506. The firm has a market capitalization of $224.28 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 5.81 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average of $243.87 and a 200 day moving average of $234.03. International Business Machines has a fifty-two week low of $162.62 and a fifty-two week high of $266.45.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. As a group, research analysts predict that International Business Machines will post 10.78 earnings per share for the current year.

Analysts Set New Price Targets

IBM has been the topic of several research reports. Bank of America boosted their price target on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $276.00 target price on shares of International Business Machines in a report on Monday, April 14th. Wedbush restated an "outperform" rating and set a $300.00 target price on shares of International Business Machines in a report on Thursday, April 24th. StockNews.com raised International Business Machines from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of International Business Machines in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, International Business Machines has a consensus rating of "Hold" and an average target price of $242.41.

Insiders Place Their Bets

In other news, SVP Robert David Thomas sold 26,543 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now directly owns 45,007 shares in the company, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in International Business Machines stock. Brighton Jones LLC increased its holdings in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 12.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,011 shares of the technology company's stock after purchasing an additional 2,323 shares during the period. Brighton Jones LLC's holdings in International Business Machines were worth $4,619,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 58.96% of the company's stock.

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.