NewEdge Wealth LLC Invests Big in IBM Stock, Buys Stake Worth $64.72 Million
NewEdge Wealth LLC has made a significant investment in International Business Machines Corporation (NYSE:IBM), purchasing 230,156 shares of IBM's stock valued at approximately $64.72 million.
This new position is part of the firm's most recent filing with the Securities and Exchange Commission (SEC) for the second quarter. NewEdge Wealth LLC has entered the market as one of several institutional investors who have modified their holdings in International Business Machines during this period.
The purchase value represents a significant increase from other new positions taken by various hedge funds and institutional investors, including Basepoint Wealth LLC, Cornerstone Financial Management LLC, Harborfront Financial Group LLC, SWAN Capital LLC, and Bare Financial Services Inc., which bought stakes worth $25,000, $28,000, $27,000, $28,000, and $29,000 respectively.