Te Ahumairangi Investment Management Ltd Takes New Position in International Business Machines Corporation
Te Ahumairangi Investment Management Ltd has taken a new position in International Business Machines Corporation (NYSE:IBM) worth approximately $4,069,000. The company acquired 14,470 shares of IBM's stock during the second quarter.
This is not an isolated incident; several other large investors have also recently increased their stakes in IBM. Orca Wealth Management LLC lifted its position by 3.7% during the fourth quarter and now owns 975 shares valued at $285,000. Friday Financial also boosted its stake by 1.9% and holds 1,903 shares worth $583,000.
According to MarketBeat.com, International Business Machines currently has a consensus rating of 'Moderate Buy' with an average price target of $265.90. The company's stock opened at $234.77 on Tuesday, and its market capitalization stands at $221.18 billion.