Pingora Partners Buys New Stake in IBM Worth $2.27M

Pingora Partners LLC has acquired a new stake in International Business Machines Corporation (IBM) worth approximately $2,269,000. The institutional investor bought 8,070 shares of IBM's stock during the second quarter, which accounts for about 1.3% of Pingora Partners' portfolio.

This is not an isolated incident; other investors have also shown interest in IBM. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in International Business Machines by 424.6% in the fourth quarter and now owns 260,740 shares worth $77,234,000. Assetmark Inc. lifted its position in shares of International Business Machines by 24.8% during the first quarter.

IBM's stock price has been stable, opening at $240.12 on Thursday. The company's fifty day moving average price is $238.89 and its 200-day moving average price is $246.54. International Business Machines Corporation has a market capitalization of $226.22 billion and a PE ratio of 21.31.