International Business Machines (NYSE:IBM) Trading 0.4% Higher After Dividend Announcement

International Business Machines Co. (NYSE:IBM) shares rose 0.4% during trading on Thursday after the company announced a dividend. The company traded as high as $206.22 and last traded at $205.82. Approximately 832,372 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,250,930 shares. The stock had previously closed at $204.90.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s payout ratio is currently 75.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IBM shares. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus upped their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Finally, UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. 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. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Price Performance

The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a market cap of $189.89 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The stock has a fifty day moving average price of $216.60 and a 200-day moving average price of $191.05.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. On average, equities analysts expect that International Business Machines Co. will post 10.13 earnings per share for the current year.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth $29,000. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the 1st quarter valued at $28,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines in the second quarter worth $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.