Northstar Invests Heavily in IBM Amid Growing Institutional Interest

Northstar Financial Companies Inc., an investment firm, recently invested $721,000 in IBM (NYSE:IBM), buying 2,566 shares of its stock. This is according to its most recent 13F filing with the Securities and Exchange Commission.

This move was part of a larger trend, as several other institutional investors and hedge funds also increased their stakes in IBM during the second quarter. Gould Asset Management LLC CA purchased $485,000 worth of shares, while Arrowroot Family Office LLC invested about $556,000. Global Retirement Partners LLC acquired a new stake in IBM valued at around $8,891,000.

58.96% of IBM's stock is now owned by institutional investors and hedge funds, indicating confidence in the company's prospects.