Glenmede Trust Co. NA Cuts Stake in International Business Machines Corporation

Glenmede Trust Co. NA, an institutional investor, reduced its stake in International Business Machines Corporation (IBM) by 2.6% during the first quarter. The company owned 118,151 shares of IBM's stock after selling 3,155 shares during the period. According to its most recent Form 13F filing with the SEC, Glenmede Trust Co. NA's holdings in International Business Machines were worth $28,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their positions in IBM recently. Some of these investors include Family CFO Inc, Basepoint Wealth LLC, Portus Wealth Advisors LLC, Joseph Group Capital Management, and Cornerstone Financial Management LLC. These investors acquired new stakes in IBM during the 4th quarter or 1st quarter.

Institutional investors own approximately 58.96% of the company's stock. IBM recently reported its quarterly earnings data, which showed a revenue of $17.16 billion for the quarter. This represents a 1.1% increase compared to the same period in the previous year. Analysts predict that IBM will post $12.34 EPS for the current fiscal year.