$2.35M Investment in IBM by Blue Edge Capital LLC Amid Increased Institutional Interest

Blue Edge Capital LLC has invested $2.35 million in International Business Machines Corporation (IBM). The company purchased 8,340 shares of IBM's stock during the second quarter, according to its SEC filing.

This is not an isolated investment in IBM. Several other hedge funds have also added significant stakes in the technology company. For example, BlackRock Inc. bought a new stake worth $21.586 billion, while Bank of America Corp DE acquired a position valued at approximately $4.214 billion.

IBM's recent quarterly earnings results met analysts' expectations with a profit of $2.93 per share on revenue of $17.16 billion. The company also announced a quarterly dividend of $1.69 per share, which represents a 59.98% dividend payout ratio.