Evolve Private Wealth LLC Invests $2.33 Million in IBM Stock

Evolve Private Wealth LLC has acquired a new position in International Business Machines Corporation (IBM), investing $2.33 million in shares valued at approximately $2,334,000.

This is not the first investment from other hedge funds in IBM stock. BlackRock Inc., Bank of New York Mellon Corp., Norges Bank, and Deutsche Bank AG have also recently acquired new stakes or positions in the company.

The technology giant's stock has a market cap of $221.28 billion and a P/E ratio of 20.84. The consensus rating among analysts is Moderate Buy with a target price of $265.90.