3 Different IBM Insiders Just Bought (A Lot of) Stock: Should You Follow?
It's hard to imagine a big tech stock more down on its luck than International Business Machines (NYSE: IBM). While the Nasdaq index is up 28.4% on the year, IBM is down 17.5% as of this writing. Of course, this isn't a new story. The switch to cloud computing has led to headwinds in IBM's on-premises IT management services for years.
However, for value investors looking for a contrarian bet, IBM may be worth a look. The company's new CEO Arvind Krishna just took over the top job in April and recently announced a spinoff of IBM's slower-growth IT services business to refocus on its hybrid cloud and artificial intelligence technology. Following its earnings report, the company hiked its dividend, which now yields 6%. Of course, IBM is just a little over a year into its massive $34 billion acquisition of Red Hat last July.
Source Fool.com
