Port Capital LLC Invests $887,000 in International Business Machines Corporation
Port Capital LLC has invested $887,000 in International Business Machines Corporation (IBM) stock. The institutional investor purchased 3,153 shares of IBM's technology company stock, as reported in its latest Form 13F filing with the SEC.
This is not the only investment made by Port Capital LLC. In total, there have been multiple investments in IBM stock by various hedge funds and institutions. According to Quiver, 58.96% of IBM's shares are owned by these entities.
Not all news surrounding IBM is positive, however. Senior Vice President Robert Thomas sold 25,000 shares for $5.8 million, a significant decrease in his ownership stake. Additionally, Zacks has noted that Arista Networks currently outperforms IBM due to stronger performance and rising estimates.