Institutions Pile into IBM Amid Revenue and Growth Concerns

Livforsakringsbolaget Skandia Omsesidigt recently acquired a new stake in International Business Machines Corporation (NYSE:IBM), purchasing 5,787 shares valued at approximately $1,627,000.

This is not the only major investment made by institutions in IBM. BlackRock Inc. bought a new stake worth around $21.59 billion, while State Street Corp increased its position by 1% to own 54.99 million shares.

Despite these investments, IBM's stock price has been under pressure, with the company's quarterly results showing revenue below expectations and modest growth concerns.