Envestnet Boosts Stake in IBM by 39.5%
Envestnet Portfolio Solutions Inc. increased its stake in International Business Machines Corporation (IBM) by 39.5% during the second quarter, according to the company's most recent 13F filing with the Securities & Exchange Commission.
The fund owned 34,908 shares of IBM's stock after purchasing an additional 9,883 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in International Business Machines were worth $9,723,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in IBM. BlackRock Inc. acquired a new position in shares of International Business Machines in the 2nd quarter valued at about $21,586,659,000. State Street Corp increased its position in International Business Machines by 2.7% during the 2nd quarter.
International Business Machines opened at $232.60 on Thursday. The company has a market cap of $219.14 billion and a PEG ratio of 2.21.