$IBM Stock Surges 6% This Week Amid Significant Insider and Hedge Fund Activity

The stock price of IBM ($IBM) rose by 6% this week according to data from Polygon. This has made it the 12th most searched ticker on Quiver Quantitative over the last week, out of 50 total tickers searched.

Insider trading activity shows that $IBM insiders have traded shares on the open market twice in the past six months, with two purchases and no sales. Notable purchases include MICHAEL MIEBACH purchasing 434 shares for an estimated $101,263 and MICHELLE J HOWARD buying 50 shares for approximately $11,891.

Looking at hedge fund activity, Quiver Quantitative reports that 1,759 institutional investors have added shares of $IBM to their portfolios in the most recent quarter, while 1,535 decreased their positions. Some notable moves include CAPITAL WORLD INVESTORS removing 4,959,459 shares (-22.5%) from their portfolio and MORGAN STANLEY adding 4,771,145 shares (+32.1%).

The $IBM government contracts dashboard shows that the company has received award payments totaling $1,074,908,197 over the last year. Some of the largest awards include a contract worth $139,148,107 for the 'BENEFITS TRANSFORMATION PLATFORM.'