Rakuten Securities Takes Stake in IBM Amid Institutional Investor Interest
Rakuten Securities Inc. has taken a position in International Business Machines Corporation (NYSE:IBM) by purchasing 3,488 shares of its stock for approximately $981,000.
This investment is part of a larger trend of institutional investors and hedge funds increasing their holdings in IBM during the second quarter. Brighton Jones LLC raised its holdings by 12.4% during the fourth quarter, while Sivia Capital Partners LLC boosted its stake by 10.6% during the same period.
IBM's quarterly earnings data for July 22nd reported $2.93 earnings per share (EPS), meeting analysts' consensus estimates. The firm's revenue of $17.16 billion was up 1.1% compared to the same quarter last year.