IBM Loses Key Investor Stake as Institutional Holdings Shift

Mitchell Capital Management Co. decreased its stake in International Business Machines Corporation by 92.9% during the second quarter, according to a recent Form 13F filing with the Securities and Exchange Commission.

The institutional investor owned 762 shares of IBM's stock after selling 9,966 shares during the period.

This move comes as other investors have been increasing their stakes in the technology company. State Street Corp raised its stake by 1% in the fourth quarter, while Geode Capital Management LLC boosted its stake by 1.5% during the same period.

International Business Machines reported earnings per share of $2.93 for the second quarter, meeting analysts' consensus estimates.