Palisade Capital Sees Opportunity in IBM Shares
Palisade Capital Management LP has acquired a new position in shares of International Business Machines Corporation (NYSE:IBM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,333 shares of the technology company's stock, valued at approximately $937,000.
This is not the only institutional investor that has recently modified its holdings of IBM. BlackRock Inc., for example, purchased a new position in International Business Machines in the second quarter worth $21,586,659,000. State Street Corp boosted its holdings in shares of International Business Machines by 1.0% in the fourth quarter.
Analysts have weighed in on IBM with varying opinions. Royal Bank Of Canada reiterated an 'outperform' rating and issued a target price of $270.00 on shares of International Business Machines. JPMorgan Chase & Co., however, lowered their price target on shares of International Business Machines from $291.00 to $250.00 and set an 'overweight' rating on the stock.