Stocks
$39.41 Million Bet on IBM: Allworth Financial LP Invests Heavily in Tech Giant
Allworth Financial LP has invested $39.41 million in International Business Machines Corporation (IBM) by purchasing 140,146 shares during the second quarter.
This investment was disclosed through a Form 13F filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought stakes in IBM, including Greenspring Advisors LLC, B. Metzler seel. Sohn & Co. AG, TrinityBridge Ltd, NFJ Investment Group LLC, and AlpenGlobal Capital LLC.
The company's stock has been the subject of various analyst reports, with Barclays cutting its price objective from $288 to $262 and Jefferies Financial Group dropping its target price from $320 to $260.