Andra AP fonden Boosts Stake in International Business Machines Corporation

Andra AP fonden has significantly increased its stake in International Business Machines Corporation (IBM), purchasing an additional 11,880 shares during the second quarter. The firm now owns 134,780 shares of IBM's stock, valued at $37,901,000 as of its most recent filing with the SEC.

This is not an isolated instance, as several other hedge funds and institutional investors have also bought into IBM. State Street Corp boosted its position in IBM by 2.7% during the second quarter, while Wellington Altus USA Inc. lifted its stake by 44.6%. Anchor Investment Management LLC and Reynders McVeigh Capital Management LLC also increased their holdings in IBM.

The institutional investors collectively own approximately 58.96% of IBM's stock. Despite this significant ownership, the company has not been immune to market fluctuations. In recent news, IBM's $2 billion investment in a quantum-manufacturing platform is weighing on sentiment due to uncertain external demand for quantum wafers.