Havera Menahelet Invests $6.8M in IBM Amid Quantum Computing Focus
Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD, an institutional investor, has invested $6.88 million in International Business Machines Corporation (IBM). The purchase was made in the second quarter and consists of 24,475 shares of IBM's stock.
This is not the only investment in IBM by a hedge fund or institution in recent quarters. Other investors have also bought and sold shares of the technology company, with Basepoint Wealth LLC buying a new position worth $25,000 in the fourth quarter.
IBM has been in the news recently due to its involvement in the CHIPS Act award from the U.S. Department of Commerce. The company received $1 billion for research and development, which is expected to strengthen its position in quantum infrastructure.
The investment by Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD comes at a time when analysts are forecasting growth for IBM. According to MarketBeat.com, the company has a consensus rating of 'Moderate Buy' and a target price of $265.16.