NFJ Investment Group Buys into International Business Machines

NFJ Investment Group LLC recently purchased a new stake in International Business Machines Corporation (IBM), acquiring 67,315 shares valued at approximately $18.93 million.

This transaction occurred during the second quarter of this year, as reported by NFJ's most recent filing with the Securities and Exchange Commission.

International Business Machines is one of several technology companies that have been subject to investment by various hedge funds in recent quarters.

The company has a market capitalization of $221.28 billion, a price-to-earnings ratio of 20.84, and a beta of 0.71.