Tulsa Wealth Advisors Buys into IBM as Institutional Investors Pile In
Tulsa Wealth Advisors INC has entered the market for International Business Machines Corporation (IBM) stock, buying 2,436 shares in the second quarter worth approximately $685,000. This new position is part of a broader trend of institutional investors acquiring IBM shares.
Other companies have also made significant investments in IBM during the same period. Northstar Financial Companies Inc. acquired a new stake valued at around $721,000, while Gould Asset Management LLC CA bought 2,300 shares worth $485,000. Additionally, Flputnam Investment Management Co. purchased a substantial amount of shares, investing around $15,237,000.
Market analysts have been watching IBM's performance closely, with some firms lowering their price targets and others upgrading their ratings. BMO Capital Markets reduced its target to $230.00 from $270.00, while Jefferies Financial Group lowered its price objective to $260.00 from $320.00.
Despite these adjustments, IBM's overall rating remains strong, with 16 analysts recommending a 'buy' and only one advising against it. The company has a moderate buy average rating and an average target price of $265.90.