MJP Associates Invests Heavily in IBM Amid Recent Institutional Buying

MJP Associates Inc. ADV has made a new investment in International Business Machines Corporation (NYSE:IBM), purchasing 6,314 shares valued at approximately $1,775,000.

This is not the only institutional investor to increase their holdings in IBM recently, with Orca Wealth Management LLC boosting its position by 3.7% and Friday Financial increasing its stake by 1.9%.

Institutional investors now own 58.96% of IBM's stock, while insiders hold a mere 0.27%. In other news, SVP Robert Thomas sold 25,000 shares in a transaction dated August 26th, reducing their ownership to 47,800 shares.