Hedge Funds Flock to IBM Amid Quantum Computing Push
Ausdal Financial Partners Inc., an institutional investor, acquired a new stake in International Business Machines Corporation (NYSE:IBM) during the second quarter. According to its most recent disclosure with the Securities and Exchange Commission, Ausdal bought 14,604 shares of IBM's stock, valued at approximately $4,107,000.
This is not an isolated instance; several other hedge funds have also recently bought and sold shares of IBM's stock. For example, Brighton Jones LLC lifted its stake in IBM by 12.4% during the fourth quarter, while Sivia Capital Partners LLC boosted its holdings in IBM by 10.6% during the second quarter.
IBM has been making strides in quantum computing and AI-driven remediation of open-source software through partnerships with companies like LTM and Red Hat. The technology company has also seen increased institutional demand and contracts, with approximately $1.1 billion in government award payments over the past year.