IBM (NYSE:IBM) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Investors of record on Friday, August 9th will be given a dividend of 1.62 per share by the technology company on Tuesday, September 10th. This represents a $6.48 annualized dividend and a yield of 4.91%. The ex-dividend date is Thursday, August 8th.
IBM has increased its dividend payment by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 19 consecutive years. IBM has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Analysts expect IBM to earn $13.67 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 47.4%.
Shares of NYSE:IBM opened at $131.92 on Friday. The firm has a market capitalization of $116.32 billion, a PE ratio of 9.55, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.83 and a quick ratio of 1.79. The business has a 50-day moving average of $143.11 and a two-hundred day moving average of $138.90. IBM has a 12 month low of $105.94 and a 12 month high of $154.36.
In other news, SVP Kenneth M. Keverian sold 2,083 shares of IBM stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $132.00, for a total transaction of $274,956.00. Following the transaction, the senior vice president now directly owns 34,465 shares in the company, valued at approximately $4,549,380. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth M. Keverian sold 2,227 shares of IBM stock in a transaction on Friday, June 14th. The shares were sold at an average price of $135.15, for a total value of $300,979.05. Following the transaction, the senior vice president now owns 32,878 shares in the company, valued at $4,443,461.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock worth $940,430. 0.19% of the stock is owned by insiders.
IBM has been the subject of a number of recent research reports. Bank of America increased their target price on IBM from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Co increased their price target on IBM from $140.00 to $147.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Evercore ISI assumed coverage on IBM in a report on Wednesday, June 5th. They issued an “outperform” rating and a $150.00 price target for the company. Zacks Investment Research raised IBM from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Tigress Financial reaffirmed a “hold” rating on shares of IBM in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $155.29.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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