IBM Stakeholders Adjust Holdings Amid Market Pressure
Chase Investment Counsel Corp acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought approximately $750,000 worth of IBM's stock through acquiring 2,668 shares.
Other large investors also made changes to their stakes in the company. Orca Wealth Management LLC raised its stake by 3.7% during the fourth quarter, owning 975 shares valued at $285,000 after buying an additional 35 shares. Friday Financial boosted its stake by 1.9% in the second quarter, now owning 1,903 shares worth $583,000.
Analysts have been following IBM closely, with several research firms issuing reports on the company's performance. Royal Bank Of Canada restated an 'outperform' rating and set a price target of $270.00. Wedbush set a price objective of $350.00, while HSBC gave the company a 'reduce' rating with a target price of $175.00.