Hayek Kallen Investment Management Acquires New Position in International Business Machines Corporation
Hayek Kallen Investment Management has acquired a new position in International Business Machines Corporation (NYSE:IBM), according to its latest Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,560 shares of IBM's stock during the second quarter, valued at approximately $7.75 million.
This represents about 2.4% of Hayek Kallen Investment Management's investment portfolio, making IBM its 13th largest holding.
Other institutional investors have also modified their holdings in IBM, including Orca Wealth Management LLC, which raised its stake by 3.7% during the fourth quarter; Friday Financial, which boosted its position by 1.9% in the second quarter; and HFM Investment Advisors LLC, which grew its holdings by 2.2% during the fourth quarter.
In other news related to IBM, SVP Robert Thomas sold 25,000 shares of the company's stock on August 26th at an average price of $230.32, resulting in a total value of $5.76 million.