IBM Sees Increased Institutional Investment from Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG purchased more shares of International Business Machines Corporation (NYSE:IBM), increasing its position by 51% in the second quarter. The company bought an additional 3,025 shares during the quarter, bringing its total to 8,955 shares.

The value of Bank Pictet & Cie Europe AG's holdings in IBM was $2.518 million as of its most recent SEC filing. This is not the only institutional investor that has increased its position in IBM recently; several other firms have also purchased new stakes or added to their existing ones.

IBM's stock price has been relatively stable, trading at $236.17 on Monday and having a 1-year high of $332.46 and low of $199.19. The company's market capitalization is $222.5 billion, with a price-to-earnings ratio of 20.96.