Amundi Boosts Stake in IBM by 14.5%
Amundi, a financial services company, has significantly increased its stake in International Business Machines Corporation (NYSE:IBM) by 14.5% during the second quarter. The firm now owns approximately 0.58% of IBM's stock worth $1.536 billion. Amundi purchased an additional 690,901 shares, bringing its total holdings to 5,462,124 shares.
Amundi is not alone in its investment in IBM. Other institutional investors and hedge funds have also made significant changes to their positions in the company during the same period. Orca Wealth Management LLC increased its stake by 3.7% while Friday Financial lifted its holdings by 1.9%. First Command Advisory Services Inc., Argent Advisors Inc., and Weik Capital Management all reported increases in their IBM shares as well.
IBM's stock has been a subject of interest among analysts, with Morgan Stanley lowering its target price from $293 to $190, while JPMorgan Chase & Co. dropped its target price from $291 to $250. Despite these adjustments, seventeen equities research analysts have rated the stock as 'Buy', ten have given it a 'Hold' rating, and one has issued a 'Sell' rating.