IBM has recently announced an increase in its quarterly cash dividend, which is set to take effect on June 10, 2023. The new dividend rate will be $1.66 per share, representing a 0.6% increase from the previous dividend. The dividend will be payable to shareholders of record on May 10, 2023, with an ex-dividend date of May 9, 2023. With an annual yield of 5.3%, IBM has been paying consecutive quarterly dividends since 1916.
According to Arvind Krishna, IBM’s chairman and CEO, the company’s consistent revenue growth, strong recurring revenue stream, and solid cash generation have allowed it to invest in its business and return capital to shareholders through its dividend. Krishna also mentioned that IBM’s hybrid cloud and AI technologies and services are in high demand worldwide as clients and partners seek to unlock productivity and automate operations and processes.
IBM’s decision to increase its dividend reflects its financial performance and commitment to providing value to shareholders. It demonstrates IBM’s confidence in its ability to generate cash flow and maintain its dividend payments. As of April 25, 2023, IBM shareholders can look forward to a higher dividend payout and continued growth from the company’s innovative technologies and services.
IBM Stock Update: April 25, 2023 – Slight Decline and Positive Earnings Growth
IBM had a previous close of $125.40 on April 24, 2023. The stock opened at $124.93 on April 25, 2023; the day’s range was between $124.81 and $125.48. The volume for the day was 3,136, which is significantly lower than the average volume for the past three months, which is 4,960,237. The market capitalization of IBM was $114.1B. IBM’s stock had a slight decline of -0.15 or -0.32%. This decline is not significant and could be attributed to market fluctuations. The earnings growth for this year is +3.25%, which is a positive sign. The earnings growth for the next five years is expected to be +5.57%, indicating a slow and steady growth rate. The revenue growth for the last year was +5.54%, a decent growth rate. The P/E ratio for IBM is 64.3, which is relatively high. The price/sales ratio is 2.12, and the price/book ratio is 5.19. These ratios indicate that IBM’s stock is rather expensive compared to its peers.
IBM Stock Forecast 2023: Analysts Predict a +13.30% Increase in Median Target Price
As of April 25, 2023, International Business Machines Corp (IBM) stock had a median target of $142.00, according to 13 analysts offering 12-month price forecasts. The high estimate was $162.00, while the low estimate was $110.00. The median estimate represented a +13.30% increase from the last price of $125.33.
IBM’s current quarter earnings per share were $2.01, with sales of $15.6 billion. The reporting date for these figures was July 20.
IBM is a technology company that provides hardware, software, and services to clients in various industries.
Overall, the outlook for IBM’s stock is uncertain. While analysts expect some growth in the coming year, the stock’s performance will depend on various factors, including the company’s ability to innovate and compete in a rapidly changing technology landscape. Investors should carefully consider these factors before deciding about buying or selling IBM stock.