Kendall Capital Management Invests $1.06 Million in International Business Machines

Kendall Capital Management acquired a new stake in International Business Machines Corporation (IBM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,780 shares of IBM's stock, valued at approximately $1.06 million.

This is not an isolated incident - several other institutional investors and hedge funds have also been buying up IBM shares in the past few quarters. BlackRock Inc., for example, purchased a new stake in IBM during the second quarter worth around $21.59 billion.

Capital World Investors lifted its existing stake in IBM by 29.2% in the fourth quarter, and now owns approximately 22 million shares of the company's stock.