International Business Machines Co. (NYSE:IBM – Get Rating) declared a quarterly dividend on Monday, July 25th, RTT News reports. Investors of record on Wednesday, August 10th will be paid a dividend of 1.65 per share by the technology company on Saturday, September 10th. This represents a $6.60 annualized dividend and a yield of 5.13%.
International Business Machines has a payout ratio of 65.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Business Machines to earn $10.26 per share next year, which means the company should continue to be able to cover its $6.60 annual dividend with an expected future payout ratio of 64.3%.
International Business Machines Stock Up 0.3 %
NYSE:IBM traded up $0.36 during mid-day trading on Monday, hitting $128.61. 269,321 shares of the company’s stock traded hands, compared to its average volume of 5,547,939. The company has a fifty day moving average of $137.29 and a 200 day moving average of $132.98. International Business Machines has a twelve month low of $114.56 and a twelve month high of $146.00. The company has a market capitalization of $115.68 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88.
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International Business Machines (NYSE:IBM – Get Rating) last posted its earnings results on Monday, July 18th. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.02. The firm had revenue of $15.54 billion during the quarter, compared to analysts’ expectations of $15.18 billion. International Business Machines had a net margin of 8.72% and a return on equity of 43.52%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. On average, analysts forecast that International Business Machines will post 9.6 EPS for the current year.
Insider Transactions at International Business Machines
In other news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.
Hedge Funds Weigh In On International Business Machines
A number of institutional investors and hedge funds have recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of International Business Machines by 97.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after acquiring an additional 127,093 shares in the last quarter. Roundview Capital LLC purchased a new stake in shares of International Business Machines during the 1st quarter worth approximately $203,000. Sei Investments Co. boosted its holdings in shares of International Business Machines by 35.7% in the 1st quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock valued at $23,157,000 after buying an additional 46,756 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in International Business Machines by 1.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after acquiring an additional 1,821 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in International Business Machines by 1.5% in the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock valued at $49,698,000 after acquiring an additional 5,506 shares during the last quarter. Institutional investors and hedge funds own 55.22% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on IBM shares. Bank of America boosted their price target on shares of International Business Machines from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. BMO Capital Markets lowered their price target on shares of International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. Morgan Stanley lowered their price target on shares of International Business Machines from $157.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Credit Suisse Group lowered their price target on shares of International Business Machines from $166.00 to $156.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 20th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.10.
About International Business Machines
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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