Altman Advisors Takes New Stake in IBM with $2.58 Million Investment
Altman Advisors Inc., an institutional investor, has taken a new stake in International Business Machines Corporation (NYSE:IBM), acquiring 9,157 shares of the technology company's stock worth approximately $2.575 million during the second quarter.
This investment is part of a broader trend of hedge funds and institutional investors buying into IBM, with several other firms also taking new positions in the company.
According to data from MarketBeat.com, IBM has an average rating of 'Moderate Buy' among analysts, with 16 investment analysts recommending a buy rating, 11 holding ratings, and one sell rating. The company's current market capitalization stands at $221.28 billion.