Edgestream Partners L.P. Trims Stake in IBM Amid Industry Updates
Edgestream Partners L.P., an institutional investor, has significantly reduced its stake in IBM (NYSE:IBM). According to the latest 13F filing with the SEC, Edgestream Partners L.P. sold 14,485 shares of IBM's stock during the first quarter, lowering its position by 89.4%. The company now owns 1,718 shares worth $416,000.
Other institutional investors have also made changes to their holdings in IBM. Family CFO Inc., Basepoint Wealth LLC, Portus Wealth Advisors LLC, Joseph Group Capital Management, and Cornerstone Financial Management LLC all purchased new positions in the company during the fourth quarter. 58.96% of IBM's stock is owned by hedge funds and other institutional investors.
IBM has received several updates this week, including FedRAMP authorization for its Maximo Application Suite as a Service for Government. This approval could support additional public-sector SaaS adoption and recurring revenue. Additionally, IBM's sovereign AI strategy in India offers growth potential through partnerships with companies like Sarvam.