Oversea Chinese Banking Corp Invests $614,000 in International Business Machines

Oversea Chinese Banking Corp Ltd acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its latest disclosure with the Securities and Exchange Commission. The institutional investor bought 2,183 shares of IBM's stock, valued at approximately $614,000.

This is not an isolated move; several other hedge funds and institutional investors have made changes to their positions in IBM recently. August Group Capital Ltd purchased a new position in IBM during the second quarter worth $248,000, while E Fund Management Co. Ltd. acquired a new stake in IBM valued at $8,997,000.

IBM's stock price opened at $234.87 on Friday. The company has a market cap of $221.28 billion and a P/E ratio of 20.84. Analysts have set a consensus price target of $265.90 for the stock.