Cullinan Associates Inc. Cuts Stake in International Business Machines by 6.7%
Cullinan Associates Inc., a financial institution, has reduced its stake in International Business Machines Corporation (NYSE:IBM) by 6.7% during the second quarter. This reduction is based on the company's most recent disclosure with the Securities and Exchange Commission (SEC). The firm now owns 90,150 shares of IBM's stock after selling 6,495 shares during the quarter.
International Business Machines comprises 1.9% of Cullinan Associates Inc.'s holdings, making it the 15th largest holding for the company. As of its most recent filing with the SEC, Cullinan Associates Inc.'s holdings in International Business Machines were worth $25,351,000.
Other institutional investors have also added to or reduced their stakes in IBM. Basepoint Wealth LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at approximately $25,000. Portus Wealth Advisors LLC bought a new stake in shares of International Business Machines in the 1st quarter valued at $26,000.
IBM's stock opened at $243.14 on Friday and has a market cap of $229.07 billion. The company has a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.23, and a beta of 0.71.