Pinnacle West Invests Heavily in IBM with $1.67 Million Stake

Pinnacle West Asset Management Inc., a financial institution, has made its first investment in International Business Machines Corporation (IBM) by purchasing shares worth approximately $1.67 million.

The purchase, as reported in the company's most recent Form 13F filing with the Securities and Exchange Commission, includes 5,940 shares of IBM stock. This marks the beginning of a new position for Pinnacle West Asset Management in IBM.