Northwestern Mutual Wealth Management Co. Invests Heavily in International Business Machines
Northwestern Mutual Wealth Management Co., an institutional investor, has made a significant purchase of International Business Machines Corporation (IBM) stock. In its most recent Form 13F filing with the Securities & Exchange Commission, the company revealed it acquired 230,347 shares of IBM's stock during the second quarter.
The total value of this purchase was approximately $64,776,000. This is not an isolated incident; several other institutional investors have also recently bought new positions in IBM, including Basepoint Wealth LLC, Portus Wealth Advisors LLC, Harborfront Financial Group LLC, Cornerstone Financial Management LLC, and Hara Capital LLC.
It's worth noting that 58.96% of IBM's stock is currently owned by institutional investors and hedge funds.