Flputnam Invests Heavily in IBM Amid Growing Institutional Interest
Flputnam Investment Management Co. has acquired a new stake in International Business Machines Corporation (NYSE:IBM), purchasing 54,184 shares of the technology company's stock valued at approximately $15,237,000.
This is not an isolated instance; other institutional investors have also recently added to or reduced their stakes in IBM. Basepoint Wealth LLC acquired a new stake in shares of International Business Machines in the 4th quarter valued at $25,000, and Cornerstone Financial Management LLC purchased a new position in International Business Machines in the fourth quarter valued at $28,000.
International Business Machines has experienced a decline of 1.2% since opening at $231.12 on Wednesday. The company's stock is owned by 58.96% of hedge funds and other institutional investors.