IBM’s Consulting segment offers business transformation services, including strategy, business process design and operations, data and analytics, and system integration services; technology consulting services; and application and cloud platform services.
The Infrastructure segment provides on-premises and cloud-based server and storage solutions for its clients’ mission-critical and regulated workloads; and support services and solutions for hybrid cloud infrastructure, as well as remanufacturing and remarketing services for used equipment.
The Financing segment offers lease, installment payment, loan financing and short-term working capital financing services.
For the third quarter, IBM posted revenue of $14.1billion, up 6% from a year ago and better than Wall’s Street’s consensus forecast. With a focus on artificial intelligence and hybrid cloud computing, the legacy technology giant could be poised for strong growth going forward.
Investors receive a 5.08% dividend. The $145 BofA Securities price target is well above the $139.26 consensus target and Wednesday’s $132.69 closing print for IBM stock.
Cisco
Investors who are more conservative may want to consider this mega-cap tech leader. Cisco Systems Inc. (NASDAQ: CSCO) designs, manufactures and sells internet protocol (IP) based networking products and services related to the communications and information technology industry worldwide.
The company provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points and servers, as well as next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice and video applications.
Its cybersecurity products give clients the scope, scale and capabilities to keep up with the complexity and volume of threats. Putting security above everything helps corporations innovate while keeping their assets safe.
The networking giant posted very grim numbers this year and the stock has taken a big hit, but the juicy dividend will pay investors to wait for the turnaround.
Shareholders receive a 3.55% dividend. Cisco Systems stock has a $54 target price at Jefferies. The consensus target is $54.78, and Monday’s close at $43.54 was up almost 2% for the day.
Five of Wall Street’s top stocks from the venerable Dow Jones industrial average still offer good entry points and come with dependable dividends. Three are legacy technology giants that have all been hit hard. While it is possible we have more market downside, all these companies have survived market and economic downturns in the past and likely will this time as well.
Originally posted at 24/7 Wall St.
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