Ieq Capital Buys New Stake in IBM

Ieq Capital LLC has acquired a new stake in International Business Machines Corporation (IBM), according to its latest 13F filing with the SEC. The institutional investor bought 86,572 shares of IBM's stock, valued at approximately $24,345,000 during the second quarter.

This is not an isolated instance, as several other institutional investors and hedge funds have modified their holdings in IBM recently. Sterling Financial Planning Inc., Burnham & Co LLC, Callan Family Office LLC, Expressive Wealth LLC, and Gambit Capital Management LLC all bought new positions in IBM during the second quarter.

IBM's stock has a market capitalization of $221.28 billion, with a price-to-earnings ratio of 20.84 and a beta of 0.71. The company's quarterly earnings per share (EPS) was $2.93, meeting analysts' consensus estimates. IBM's revenue for the quarter was $17.16 billion, up 1.1% from the same period last year.