Mcdonald Partners Sells 15,747 Shares of International Business Machines Corporation

Mcdonald Partners LLC has reduced its stake in IBM by 56.6% during the second quarter, selling 15,747 shares of the technology company's stock. The fund owned 12,077 shares after the sale and its holdings in International Business Machines were worth $3,396,000 at the end of the most recent quarter.

Other hedge funds have also adjusted their stakes in IBM. State Street Corp boosted its stake by 1.0% in the fourth quarter, buying an additional 518,321 shares. Geode Capital Management LLC increased its position by 1.5% during the same period, acquiring 336,069 more shares.

However, some analysts and investors remain cautious about IBM's prospects. BTIG reportedly cautioned that the company's recent quantum achievement does not demonstrate a commercially scalable system. This tempered investor enthusiasm and contributed to pressure on IBM's shares.