International Business Machines Co. (IBM) To Go Ex-Dividend on November 12th

International Business Machines Co. (NYSE:IBM) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 1.67 per share by the technology company on Tuesday, December 10th. This represents a $6.68 annualized dividend and a yield of 3.23%. The ex-dividend date is Tuesday, November 12th.

International Business Machines has raised its dividend payment by an average of 0.6% annually over the last three years and has increased its dividend annually for the last 29 consecutive years. International Business Machines has a payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Analysts expect International Business Machines to earn $10.56 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 63.3%.

International Business Machines Stock Up 0.9 %

Shares of NYSE IBM opened at $206.72 on Friday. The firm’s 50-day moving average is $216.60 and its 200-day moving average is $191.05. International Business Machines has a 1 year low of $142.59 and a 1 year high of $237.37. The firm has a market capitalization of $190.42 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 4.28 and a beta of 0.70. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm earned $2.20 EPS. International Business Machines’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that International Business Machines will post 10.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. UBS Group increased their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Finally, Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $208.12.

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.