IBM stock hits all-time high

Big Blue just misses $140 per share in Monday session

Shares of technology giant IBM Corp. (NYSE: IBM) reached an all-time high in mid-afternoon trading Monday before falling off slightly.

ibm

IBM shares got as high as $139.94 around 2:30 p.m. before settling back to 139.66 at market’s close. IBM ended the day up 81 cents, or 0.58 percent, from Friday’s closing price of 138.85.

On Monday Oracle said it and IBM will collaborate in the OpenJDK community. The Java development platform is widely used in business software, web and mobile applications. Oracle (NASDAQ: ORCL) finished down 15 cents, or 0.5 percent, to 27.85.

Also Monday, IBM announced a five-year, $19 million agreement with Indian mobile phone company Pyro Group in which Big Blue will help Pyro with application development as well as mobile phone software testing and management.

IBM has been on a great run in the stock market lately. Since closing at 122.78 on Aug. 26, shares have risen 13.7 percent through Monday. For the year, IBM shares are up only 6.7 percent, but since Nov. 20, 2008, Big Blue’s stock price has nearly doubled.

The company and its shareholders have benefited from consistent and increasing profits. The company also has tripled dividend payouts in the past four years and has an aggressive stock buyback policy.

Tags: ,

Leave a Reply