McCollum Christoferson Group Boosts Stake in IBM by 1,088.7%

McCollum Christoferson Group LLC significantly increased its stake in International Business Machines Corporation (NYSE:IBM) during the second quarter, according to a recent filing with the Securities and Exchange Commission. The fund's holdings in IBM now make up about 1.8% of its portfolio, making it their 20th biggest position. McCollum Christoferson Group LLC purchased an additional 22,176 shares of IBM's stock during this period.

The company's quarterly revenue was up 1.1% on a year-over-year basis, and analysts forecast that International Business Machines Corporation will post $12.33 EPS for the current fiscal year. In other news, IBM recently declared a quarterly dividend of $1.69 per share, which represents a 2.9% yield.

International Business Machines Corporation has been in the news lately due to its AI investments and quantum computing efforts. The company's CEO has indicated that quantum computing could begin making a measurable contribution to revenue and earnings later in the decade.