IBM Stake Increases Amid Mixed Analyst Views
Gradient Investments LLC has increased its stake in International Business Machines Corporation (IBM) by 6.3% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.
The fund now owns 51,157 shares of IBM's stock after buying an additional 3,052 shares during the quarter, making Gradient Investments LLC's holdings in IBM worth $14,386,000 at the end of the most recent quarter.
This is not an isolated instance; several other hedge funds have also bought and sold shares of IBM recently. McGowan Group Asset Management Inc., for example, increased its holdings in IBM by 1.2% in the fourth quarter, while Exencial Wealth Advisors LLC lifted its stake in IBM by 0.4% during the same period.
Meanwhile, analysts have issued mixed views on IBM's performance. Some, like Robert W. Baird, have initiated coverage with a 'neutral' rating and a $230.00 target price on the stock. Others, such as Oppenheimer, have lowered their ratings, from an 'outperform' to a 'market perform'.