Shift to the cloud pays off for IBM

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP. $116 is a buy. The company (New York symbol IBM; Conservative-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Shares o/s: 887.9 million; Market cap: $103.0 billion; Divd. yield: 5.6%; Divd. Sustainability Rating: Above Average; www.ibm.com) raised its quarterly dividend by 0.6% in June 2020. The new annual rate of $6.52 a share yields a high 5.6%. IBM continues to enhance its cloud computing expertise. It’s focused on helping companies go online to access files and run programs stored on remote servers. IBM will now pay an undisclosed sum for Spanugo. It makes security software to help businesses monitor their networks for breaches as they are happening. Spanugo will help IBM profit as more of its corporate clients migrate their legacy systems to the cloud. IBM is a buy. buy…

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