Dearborn Partners Bets Big on IBM with $12.37 Million Investment

Dearborn Partners LLC has acquired a new stake in International Business Machines Corporation (NYSE:IBM), investing $12.37 million in the company's stock during the second quarter.

The fund purchased 43,983 shares of IBM's stock, valued at approximately $12,369,000, according to its most recent filing with the Securities and Exchange Commission (SEC).

This investment is part of a larger trend of institutional investors buying into IBM. In the second quarter, other funds such as Basepoint Wealth LLC, Portus Wealth Advisors LLC, Harborfront Financial Group LLC, Cornerstone Financial Management LLC, and Hara Capital LLC all acquired new stakes in IBM.