Principle Wealth Partners Takes New Stake in IBM

Principle Wealth Partners LLC bought approximately $16.58 million worth of International Business Machines Corporation (NYSE:IBM) stock, taking a new position in the company's shares during the second quarter.

The institutional investor purchased 58,883 shares, which makes up about 0.8% of Principle Wealth Partners LLC's holdings and its 27th largest holding.

Other institutional investors have also bought into IBM, including Orca Wealth Management LLC, which raised its stake in the company by 3.7% during the fourth quarter, and Friday Financial, which boosted its stake in shares of International Business Machines by 1.9% in the second quarter.