$4.22 Million Bet on IBM: Occidental Asset Management LLC Takes a Position

Occidental Asset Management LLC has taken a $4.22 million position in International Business Machines Corporation (NYSE:IBM). The fund purchased 15,017 shares of IBM's stock during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.

This is not an isolated event, as other institutional investors have also increased their stakes in IBM. State Street Corp raised its stake by 1% in the fourth quarter, while Geode Capital Management LLC boosted its stake by 1.5%. Capital World Investors grew its position in IBM by 29.2% during the same period.

IBM's price performance has been mixed, with shares opening at $231.43 on Thursday. The company has a debt-to-equity ratio of 1.63 and a quick ratio of 0.74. Its market cap stands at $218.04 billion, with a PE ratio of 20.54 and a PEG ratio of 2.21.