Commerce Bank Acquires IBM Shares in Second Quarter
International Business Machines Corporation (IBM) has seen significant changes in its ownership structure. According to MarketBeat, Commerce Bank acquired a new position in IBM during the second quarter by purchasing 149,351 shares of the company's stock, valued at approximately $41,999,000.
This acquisition is part of a larger trend where institutional investors have been buying and selling IBM shares. Brighton Jones LLC boosted its holdings in IBM by 12.4% during the fourth quarter and now owns 21,011 shares of the company's stock valued at $4,619,000 after acquiring an additional 2,323 shares.
IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development. The company has a market cap of $221.28 billion and a PE ratio of 20.84. IBM also recently declared a quarterly dividend, which will be paid on Thursday, September 10th.