International Business Machines Corporation Announces Quarterly Dividend of $1.69 (NYSE:IBM)

International Business Machines Corporation (NYSE:IBMGet Free Report) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 10th will be paid a dividend of 1.69 per share by the technology company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 10th.

International Business Machines has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years. International Business Machines has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Business Machines to earn $13.16 per share next year, which means the company should continue to be able to cover its $6.76 annual dividend with an expected future payout ratio of 51.4%.

International Business Machines Trading Down 2.1%

NYSE IBM opened at $206.03 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a market cap of $193.64 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.27 and a beta of 0.68. The firm has a 50 day simple moving average of $263.26 and a 200-day simple moving average of $261.42. International Business Machines has a one year low of $204.44 and a one year high of $332.46.

International Business Machines (NYSE:IBMGet Free Report) last announced its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting the consensus estimate of $2.93. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $17.48 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 EPS. Equities research analysts anticipate that International Business Machines will post 12.19 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after acquiring an additional 1,439,824 shares in the last quarter. State Street Corp raised its position in shares of International Business Machines by 1.0% during the 4th quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock worth $16,290,452,000 after acquiring an additional 518,321 shares in the last quarter. Geode Capital Management LLC increased its stake in International Business Machines by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock valued at $6,679,105,000 after purchasing an additional 336,069 shares during the last quarter. Capital World Investors raised its holdings in International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after purchasing an additional 4,976,756 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of International Business Machines by 7.0% during the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

(Get Free Report)

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

Further Reading

Dividend History for International Business Machines (NYSE:IBM)

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