IBM Sees Growing Institutional Support Amid New Investment

Transamerica Financial Advisors LLC has purchased a new position in International Business Machines Corporation (NYSE:IBM), valued at approximately $778,000. The institutional investor bought 2,767 shares of the technology company's stock during the 2nd quarter.

This is not an isolated move, as several other institutional investors have recently added to or reduced their stakes in IBM. BlackRock Inc., for example, acquired a new stake in shares of International Business Machines during the second quarter worth approximately $21,586,659,000.

State Street Corp boosted its holdings in shares of International Business Machines by 1.0% in the 4th quarter, while Geode Capital Management LLC grew its position in International Business Machines by 1.5% during the same period.