Linscomb Wealth Boosts IBM Stake as Analysts Weigh In

Linscomb Wealth Inc., a US-based institutional investor, significantly increased its stake in International Business Machines Corporation (NYSE:IBM) during the second quarter. According to the company's latest filing with the Securities and Exchange Commission, Linscomb Wealth Inc.'s holdings in IBM are now worth $4,785,000.

The 236% increase in their stake comes after purchasing an additional 11,952 shares of IBM stock during the period. As of its most recent filing, the company owned a total of 17,016 shares of IBM's technology-focused stock.

This isn't the only recent development surrounding IBM. Analysts have been weighing in on their views for the tech giant's future prospects. BMO Capital Markets recently cut their price target from $270.00 to $230.00 and set a 'market perform' rating on the stock, while Bank of America raised its price objective from $315.00 to $330.00 and gave IBM a 'buy' rating.