Confluence Wealth Services Inc. Boosts Stake in International Business Machines Corporation
Confluence Wealth Services Inc., an institutional investor, has increased its stake in International Business Machines Corporation (NYSE:IBM) by 21.6% in the second quarter.
The company now owns 19,768 shares of IBM's stock, valued at $5,559,000, following the acquisition of an additional 3,509 shares during the period.
This is not an isolated instance, as several other institutional investors have also increased their holdings in IBM. Vanguard Group Inc., for example, has lifted its position in shares of IBM by 1.5% during the fourth quarter and now owns 97,216,131 shares worth $28,796,390,000.
IBM's revenue was up 1.1% compared to the same quarter last year, and the company posted earnings per share (EPS) of $2.93 for the quarter, meeting analysts' consensus estimates.