Hedge Fund Focuses on IBM with $9.75 Million Investment
Fund manager Focus Partners Advisor Solutions LLC has made a significant investment in International Business Machines Corporation (NYSE:IBM). According to its most recent 13F filing with the SEC, the fund bought 34,668 shares of IBM's stock, valued at approximately $9.75 million.
This is not the only notable investment in IBM from hedge funds in the second quarter. Norges Bank also acquired a new position in the technology company, worth around $2.45 billion.
The market has been cautious about IBM's performance due to its recent revenue miss, but several analysts are optimistic about its quantum computing initiatives. Susquehanna analyst James Friedman raised his price target for IBM to $235, citing upcoming catalysts in the field of quantum computing.